Interest in owning electric vehicles (EVs) may vary from condo to condo, but one thing is certain: EVs are here to stay, and North America is seeing a rapid surge in EV adoption. We don’t have to look far for the data. In 2019 (the last full year of vehicle sales before supply chain disruptions), Americans bought over 17 million new vehicles, with EVs making up about 2% of these sales. Similarly, Canadians purchased approximately 1.92 million vehicles in 2019, with EVs accounting for around 3%. Fast forward to 2024, and EVs accounted for approximately 8% of U.S. car sales and 15.7% of Canadian new vehicle registrations, with even higher rates in provinces like Quebec and British Columbia, where strong incentives have driven adoption. 

This trend is accelerating, with ambitious federal targets in both countries. The U.S. aims for 50% of all new vehicle sales to be EVs by 2030, while Canada has committed to 100% zero-emission vehicle sales by 2035. Of course, we understand changes in government could easily adjust these targets and timelines. Even so, EVs are not going away, and adoption will continue to grow. If condo owners are in the market for a new vehicle today, they have approximately a 1 in 10 chance of choosing electric—and those numbers are climbing every year.

According to recent surveys, approximately 48% of American car buyers intend to purchase an EV within the next two years. So, with EV adoption increasing, how can condo boards and owners prepare to meet this growing demand? Read on to find out!

Questions Condo Boards May Be Asking

Should We Form a Committee to Plan for EV Chargers?

The answer is yes. The first step is to determine how many condo owners are interested in making the building EV-ready. A simple survey can help gauge interest and provide valuable insights:

• Are residents more inclined to buy an EV if charging infrastructure is available?
• Do current or prospective owners already own EVs and need charging solutions?
• How important is EV readiness to maintaining or increasing property values?

Forming a committee can help answer these questions and shape a strategy for EV readiness. With clear data on resident interest, the board can establish a budget, timeline, and priorities for installing chargers. Engaging residents early ensures transparency and builds support for the initiative.

What Type of Electrical Equipment or Upgrades Will Be Required?

The required upgrades depend on your building’s current electrical setup. Start by assessing:

• The location of electrical meters (e.g., in the parking garage, on each floor, or shared among owners).
• Available space in or near electrical rooms for equipment like panels and transformers.

Once you understand the layout, planning becomes more straightforward. Here are two common scenarios:

• Scenario 1: Condo owners’ meters are accessible from parking spaces. This setup allows each EV charger to connect directly to the individual owner's meter. This approach is simple and cost-effective, as it involves installing an outlet (like a stove plug) that residents can use with their preferred chargers.
• Scenario 2: EV chargers must connect to the building’s main power system. In this case, an energy capacity study by a licensed electrical engineer is recommended. Typically, a 48A charger requires a dedicated 240V 60A circuit to meet electrical code requirements. Shared charging setups may also require load management systems to ensure adequate power distribution across multiple units. To future-proof the system, choose hardware compatible with Open Charge Point Protocol (OCPP) standards, which ensures interoperability and access to utility rebates.

Addressing these scenarios early can prevent costly delays and ensure the project aligns with your building’s needs.

Will EV Chargers Add Value to Our Property?

The short answer is yes. Studies have shown that access to EV charging infrastructure is increasingly important to prospective buyers and tenants. For example, a 2022 Zillow analysis shows homes featuring an EV charging station sold faster than similar homes without EV infrastructure. A lack of charging options could make your property less competitive, especially as EV adoption grows. Providing this amenity signals that your building is forward-thinking, environmentally conscious, and responsive to resident needs.

In another example, a study by the University of Rhode Island in 2023 shows that proximity to charging stations can increase home values by up to 5.8%. While exact numbers vary by market, the trend is clear: EV readiness is becoming a key factor in property desirability.

Funding and Incentives: How to Offset Costs

One of the biggest concerns for condo boards is the cost of installation. Fortunately, there are several funding programs in the US to help offset these expenses:

• National Electric Vehicle Infrastructure (NEVI) Program: This federal initiative supports the expansion of EV charging stations, prioritizing underserved communities. States offer funding to cover up to 80% of eligible costs, making it a valuable resource for condo boards planning multiple installations.
• Charging and Fueling Infrastructure (CFI) Grant Program: Designed to increase access to EV charging, the CFI program offers grants for public or private locations. Larger condo communities can especially benefit from this program, as it covers a significant portion of installation costs. Working with a knowledgeable manufacturer or consultant can help navigate the application process.

Additionally, many utility companies provide rebates or incentives for installing EV chargers. Be sure to explore local programs for added financial support.

Addressing Challenges and Building Consensus

Common Concerns

Some board members or residents might have concerns about costs, parking access, or maintenance. Here are some solutions:

• Cost Allocation: Develop a billing system where EV owners pay for their own energy usage. This ensures fairness and avoids burdening non-EV owners. 
• Parking Access: Implement policies to designate EV charging spaces while maintaining equitable access for all residents.
• Maintenance: Partner with a reputable EVSE provider that offers long-term support and warranties. 

Real-World Success Stories

Several condo associations across the U.S. have successfully implemented EV charging solutions. For instance, Silver Spur Court Condos in Rolling Hills Estates, California, installed EV charging stations through Southern California Edison’s Charge Ready program. Following the installation, residents expressed high levels of satisfaction, with some deciding to purchase EVs because of the convenience. The Homeowners Association President noted that the addition of chargers likely boosted property values by making the building more attractive to eco-conscious buyers. Similarly, other multifamily residences have reported increased interest from prospective buyers when EV-ready infrastructure is in place. Sharing these examples can help build confidence and consensus within your community.

Why Act Now?

EV adoption isn’t a question of “if” but “when.” By taking proactive steps to install EVSE, your condo can:

• Enhance property value.
• Attract eco-conscious buyers and tenants.
• Position itself as a leader in sustainability.

Learn how Electric Avenue can help your condo prepare for an electrified future. Get in touch —connect with one of our EV charging experts today!