Let’s be honest, the ever-present goal everyone in our built community admits to setting is maximizing project value as compared to costs. Washington and the greater Seattle region set the bar high, making the margins low with added code and energy use requirements.  

Here is why: 

As of July 6th, 2023, more EV chargers are required for new garages and parking installations.

• Washington State requires 10% of all parking stalls to have ready-to-use chargers, and that an additional 10% be charger-ready. Many cities are even requiring higher percentages of 15% functional chargers with another 10% charger ready.
• Seattle currently has the highest standard at a minimum of 25% of all parking equipped with functioning chargers, and another 20% be charger ready – nearly half the total parking!

It’s more important than ever to take a hard look at how these new requirements can serve as a boost to your project, rather than a hindrance. These are our three strategies to leverage required electric vehicle charging in your upcoming projects: 

1. Implement a load management system to mitigate electric service needs. 
2. Identify and exploit value-add engineering opportunities. 
3. Add new revenue for each EV space listed in the project proforma.

1. Implement a load management system to mitigate electric service needs

OK, let's do some simple math:

A new parking garage in Seattle with 200 total parking stalls would be required to have 90 stalls installed with or prepared for charging equipment; this traditionally equates to 3,600 amps of additional electric capacity needed.

Use of a Load Management System can reduce that required capacity to just 900 amps; a significant cutback that offers potentially hundreds of thousands of dollars in permit, amperage, and infrastructure cost savings.  

Beyond saving on the up-front cost of utility service, future expansion into the garage would be possible in a plug-and-play style, with each load management device handling up to 100 vehicle chargers. Future proofing the asset and offering a higher value end-product.

2. Identify and exploit value-add engineering opportunities. 

Sure, saving thousands of dollars at the drawing board is enticing in and of itself, but leveraging those funds to make your project function at an advanced level can propel the overall value even higher.

Here are some questions to be considered: 

• Where can you reallocate saved budget funds and in what ways will they be most effective? 
• Can a higher quality window package be designed, or more be spent on interior finishes, driving higher rents/purchase prices?  
• Will distributing EV and utility budget allowance savings provide opportunities to add new amenities? 
• Can savings be found in other areas now, considering the lower overall demand for electricity this building will have?  

We’ve cultivated (especially for architects) a list of cost-saver questions such as these to use as a guide when meeting with the project MEP team (mechanical, electrical, plumbing engineers). Download today to start a holistic engineering approach on your next project.

Check out the corresponding MEP blog article.

3. Add new revenue for each EV space listed in the project proforma.

Construction completes on budget and ownership is ready to lease up their asset; what’s the focus now?

Shared charging is undesirable for customers, especially in a home setting. EV drivers are willing to pay for the convenience of charging in their reserved parking stall – without time limit worries, or first-come-first-served misses. Strategically interpreting this need turns charger equipped spaces into an additional income stream for the property owner.

Multi-family and even office building owners can charge $50 to $75 per space, over and above the standard cost for monthly parking in the building. Using the model above, assuming 50% of equipped spaces are rented (25), reflects additional proforma income of up to $22,500 per year.

YOU ARE NOT ALONE ON THIS!

If you’re struggling to make your project work with standard chargers, their electricity needs, and compliance with new codes, remember that there are many upsides to having functioning, load managed EV charging networks.

• Providing value engineering opportunities
• Saving on up-front costs 
• Monetizing the equipment for the end user

- are just a few of those! 

Set up an online appointment to learn more about how load managed charging can help you save money and increase project income.

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LEADING CHARGE - powered by Northwest Partners LLC

2815 Eastlake Ave E Ste 300,
Seattle, WA 98102
  [email protected]