- Aubrey Gunnels of 3V Infrastructure is leading a revolution in urban electrification, focusing on EV charging solutions for multifamily housing.
- EVs are projected to make up nearly half of new U.S. car sales by 2030, yet only 5% of multifamily units currently offer on-site charging.
- 3V Infrastructure, with $40 million backing, plans to install chargers across 17 states without upfront costs, relying on electricity sales instead.
- The company offers a 10-year contract model, minimizing risk for property owners and sharing eventual profits.
- Past issues with charger reliability highlight the importance of partnerships with experienced operators like 3V.
- As EV charging becomes essential, early adopters among property owners gain a competitive advantage.
- Charging infrastructure is shifting from a luxury to a necessity, driven by the push for sustainability and convenience.
Aubrey Gunnels peers into the future of urban living and sees a revolution parked in the garages of thousands of apartment complexes across the United States. As the dynamic CEO of 3V Infrastructure, she is not just envisioning a world with electric vehicles; she is actively charging it.
The statistics paint a vivid picture: By 2030, electric vehicles (EVs) could compose nearly half of all new car sales in the U.S. Meanwhile, around 80% of EV drivers prefer to power up at home, yet only a scant 5% of multifamily housing units offer on-site charging solutions. This glaring gap represents a tectonic shift waiting to happen, as a third of Americans reside in multifamily housing.
Gunnels advocates for a forward-thinking approach. Despite the initial hesitancy of property owners—who traditionally aren’t in the business of installing sophisticated tech—3V Infrastructure is charging ahead, quite literally. Armed with an impressive $40 million backing from Greenbacker Capital Management, the New York-based startup is about to transform hundreds of properties across 17 states into electrified havens.
But what exactly differentiates 3V Infrastructure in this lucrative yet nascent market? While many “charging-as-a-service” models burden property owners with upfront costs or monthly fees, 3V takes a different approach. They ask for no money upfront and only require a 10-year contract in exchange for installing and maintaining the chargers. The company relies on electricity sales, planning to share profits with property owners once fruitful.
The endeavor is not without its risks. Selecting optimal locations, predicting EV adoption rates at each site, and ensuring consistent operation of chargers are all critical components of their strategy. But the gamble could pay off handsomely as demand climbs and reliability improves.
The electric highway has not always been a smooth ride. Early chargers, marred by technical failures and unreliability, left a sour taste among property owners and tenants alike. Mark Kerstens of CBRE, a global property management giant, emphasizes the importance of working with experienced charge point operators like 3V to avoid past pitfalls. The alternative, doing it alone, often results in a quagmire of broken technology and unmet expectations.
Clark Longhurst of SitelogIQ—partnering with 3V for installations—underscores a crucial factor for success: a seamless, prompt service when things go awry. EV charging must glide with the ease of modern conveniences, providing a seamless experience for renters and condo owners who are increasingly viewing these amenities as staples, not luxuries.
The market is on the brink of a paradigm shift. Property owners who embrace this change early may secure a competitive edge. As EVs become more integrated into daily life, charging infrastructure transitions from an ‘amenity’ to a non-negotiable feature. Those without it risk becoming the urban dinosaurs of the real estate world—a fate few can afford.
The electrification of homes is not just about cables and chargers; it’s a promise of sustainability, modernity, and convenience in the digital age. As apartment dwellers plug into this green future, the visionaries poised to power them are already steering the industry toward an electrifying dawn.
Electrifying the Future: How Apartment Complexes Are Powering Up for the EV Revolution
How the Urban Housing Landscape is Transforming with EV Charging Stations
The rapid adoption of electric vehicles (EVs) is leading to a transformative shift in urban living, particularly in multifamily housing complexes. As electric vehicle ownership becomes more commonplace, the demand for accessible charging solutions is poised to revolutionize the urban housing market.
Current Trends and Market Forecasts
The burgeoning EV market is expected to change the landscape of residential properties, especially in densely populated areas:
– EV Market Growth: According to BloombergNEF, EVs will constitute nearly half of all new car sales in the U.S. by 2030, indicating a strong upward trend.
– Home Charging Preferences: A majority of EV users (approximately 80%) prefer the convenience of charging their vehicles at home, which is increasingly becoming a factor in housing decisions.
Addressing the Infrastructure Gap
Despite the increasing demand, only 5% of multifamily housing units currently offer on-site EV charging, highlighting an urgent need for infrastructure development. Companies like 3V Infrastructure are at the forefront of addressing this gap with innovative models that minimize financial risks for property owners.
– 3V Infrastructure’s Unique Model: Unlike traditional models requiring substantial upfront costs or monthly maintenance fees, 3V offers a partnership based on a 10-year contract. This approach involves sharing profits generated from electricity sales, making it a cost-effective solution for many real estate developers.
Navigating Challenges and Risks
Several challenges persist in the deployment of EV charging solutions:
– Location Selection: Choosing optimal locations for charging stations requires strategic planning to ensure high adoption rates.
– Reliability and Maintenance: Technical failures in EV chargers could lead to unsatisfied tenants and deter property owners. Thus, consistent and reliable service is critical.
– EV Adoption Predictions: Forecasting EV adoption rates in specific communities is complex but essential for successful infrastructure deployment.
Real-World Use Cases
Real estate developers integrating EV charging stations are witnessing:
– Increased Property Value: Properties equipped with EV amenities are attractive to environmentally conscious tenants and can command higher rent.
– Sustainability Goals: Offering EV charging aligns properties with sustainable living initiatives, appealing to a growing base of eco-friendly consumers.
Pros and Cons Overview
Pros:
– Enhances property marketability and attracts tech-savvy, environmentally conscious tenants.
– Supports sustainability and reduces the carbon footprint of housing complexes.
Cons:
– Initial setups can be complex, with technology and service reliability being potential risks.
– Rapid EV technology advancements may require updates and investments down the road.
Expert Insights and Predictions
Experts predict that the integration of EV charging stations will soon be a standard feature rather than an optional amenity. With the ongoing push for green energy solutions, those who adapt early will reap long-term benefits. Mark Kerstens from CBRE stresses the importance of partnering with experienced charge point operators to mitigate technical risks and ensure user satisfaction.
Actionable Recommendations
For property owners and developers:
1. Assess and Plan: Conduct a feasibility study to determine optimal locations for EV charging within your property.
2. Partner with Experts: Collaborate with established charge point operators to ensure reliable and scalable infrastructure.
3. Communicate Benefits: Highlight the environmental and convenience aspects of EV charging to prospective tenants to increase property appeal.
To learn more about how EV infrastructure can transform your properties, visit Greenbacker Capital Management and CBRE.
The future of urban living is electric, and embracing it now equates to being at the forefront of modern and sustainable living solutions. With companies like 3V Infrastructure leading the charge, it’s time for property owners to accelerate towards this electrified future.