Commercial Real Estate and EV Charging

Commercial Real Estate and EV Charging

When the Tesla Model S first appeared in 2010, it was instantly popular. The affluent and tech-savvy could now flaunt both their wealth and their concern for the environment at the same time. Needing to attract and retain top talent, Silicon Valley tech companies quickly added EV charging to their employee perks. Now, it’s an essential, along with the back rubs and free dry cleaning. EV adoption appears ready to increase about 25% annually over the next five years. Maybe it’s time to add EV charging to your commercial multi-tenant property, too.

The Carrot and The Stick

Right now, wer’re seeing the mass adoption of EVs, a diversification of EV drivers, and supportive regulations and incentives. A recent report from RCLCO concludes that EV charging early adopters can enjoy new revenue streams. Those who delay, however, might see, “reductions in asset positioning.” In short, properties that don’t offer charging stations risk losing tenants and value. “A property’s success and performance will rely at least in part on its anticipation of, and proactive response to, these trends in EV adoption.”

For property owners with assets in major cities, adding EV charging isn’t a matter of choice. It’s a regulatory requirement. Andrea McCarthy, program manager for the Electrification Coalition, said make-ready ordinances are “a quick way” to increase EV adoption. They don’t just put more EV charging at multi-unit commercial dwellings. They also put them at other major buildings or parking structures in cities. More than 30 municipalities have passed such requirements, according to Electrification Coalition data.

We’ve Got You Covered

Noodoe EV isn’t just a charging management platform. It’s a comprehensive environment that guides and supports property owners and managers through the potentially intimidating process of selecting, installing, and operating an EV charging system.

Our salespeople first help commercial property owners identify which Noodoe EVSE chargers will best meet the needs of their tenants. Most people have short commutes, about 16 miles each way. So, cheaper AC or Level 2 EV chargers with 32A output are plenty. If your tenants operate larger trucks and vans, our new 80A/19.2 kW model is perfect. It has the power to charge bigger batteries without draining your budget.

Most people spend 7–9 hours at work. Some tenants may have salespeople or technicians who spend only 1-2 hours in the office before hitting the road. Our Exceed DC 30 kW Quick Charger (sometimes called a wallbox) provides miles “in a hurry.” It’s also thousands of dollars less than a traditional 50 kW DC Fast Charger.

The More, The Merrier

More commercial tenants driving EVs means more EV charging rapidly consuming available spare power. Noodoe EV OS’ advanced load management technology comes to the rescue! It adjusts the output of each charger to meet the drivers’ needs without exceeding your electrical system’s available supply. Simple load balancing divides the available power among the EVs that are connected. However, EV OS allows system owners to prioritize the charging of selected vehicles to give more power where it’s needed. Meeting your tenants’ unique requirements builds loyalty, and Noodoe EV OS helps you do just that.

Less Input, More Output

Labor shortages seem to be the new norm, and your staff already has more responsibilities than they can handle. Managing your commerical EV charging system shouldn’t be one of them. So, we developed advanced diagnostic routines that detect and automatically repair minor conditions that can knock chargers offline. The less time your people spend fixing problems, the more time they can devote to their duties. Increased productivity is always good for the bottom line.

This same philosophy underlies our QR Code-based Scan, Pay & Charge functionality. Drivers simply scan the charger’s QR code with their smartphone. They then select their preferred payment method, including Tap and Pay, PayPal, Apple Pay and Google Pay. There are no apps to download, no applications to fill out, no 800#s to call, and no questions your staff will have to answer. Your tenants can charge their cars, and your staff can do their jobs.

THE ELECTRIC FIELD OF DREAMS

The increased adoption of electric vehicles is directly impacted by the amount of charging infrastructure that is available where people live and work. It is common for property owners who install chargers to see a rapid increase in the number of tenants who then purchase electric vehicles. It’s the EV version of the well-known line “If you build it, they will come.” We all want cleaner air, a quieter environment, and an opportunity to slow the effects of climate change. Noodoe can help you build your EV charging “Field of Dreams” and maybe turn a profit in the process. Give us a call, and we can dream together.