Multifamily properties: Use power management software for cost-effective EV charging

The Business of Charging |

Woman charging outside her apartment

The right software puts the power of EV charging into your hands — and makes it easy for you to meet your residential property goals. 

Software that enables power management, for example, can help reduce upfront costs when implementing a charging program for residents. As a multifamily property owner or manager, you may feel you can’t implement EV charging at all or can't put in enough stations to meet resident demand because it would require upgrading your electrical infrastructure, which could be costly.

In reality, you can use power management to share your existing energy supply across more charging spots — instead of installing additional circuits, panels or transformers.

The right software can actually double the number of stations you offer without requiring a major electrical infrastructure investment, allowing you to accommodate more residents who drive electric — today and down the road as EVs become more common. 

How does it work?

For multifamily housing, two main types of power management can help you manage your EV charging program:

  • Equal charge allows you to share power equally among vehicles based on their maximum charging rate.

Equal Share Power Management for EV ChargingAnimation that shows how equal share power management works

  • Round robin allows each vehicle to charge at its maximum rate for a set amount of time, then power cycles through to other vehicles based on when they were plugged in. 

Round Robin Power Management for EV ChargingAnimation that shows how round robin charging works

Both power management approaches allow you to manage available power at the circuit, panel or charging station location so more stations can be installed overall. Intelligently sharing existing power among your stations also helps keep electricity costs low by avoiding charging during peak hours when utility costs are higher and by avoiding costly demand charges.

Charge more vehicles for less

EV charging is quickly becoming a necessary offering for many people living in apartments and condos. For EV drivers, charging at home (or work) is the easiest way to fuel up. They simply plug in when at home, just like with a cell phone, and their vehicle is ready to go when they are. 

With power management software and all its customizable features, you can set your multifamily business up for success with a measured EV charging strategy while also meeting your residents’ growing demand for charging.

  • Reduce energy costs and demand charges.
    • Hierarchical power sharing. Set different power-sharing limits for different groups and ensure no limit is exceeded. Charge as many vehicles as possible without incurring unnecessary electricity costs.
    • Site sharing. Set a power ceiling to limit the aggregate instantaneous load for all charging stations if the overall power available at a site is limited by a transformer. This setting is especially helpful at properties where station usage could potentially create a large swing in electricity costs.
  • Serve more EVs without adding capacity.
    • Circuit sharing. Set up multiple stations to share a circuit without exceeding the rated load capacity.
    • Fixed-power derating. Set maximum power for a station, enabling stations to be provisioned on smaller circuits without exceeding the rated capacity.
    • Panel sharing. Install more stations than your panel capacity.
    • Cable sharing. Wire your dual-port charging station to a single circuit, so as not to exceed the breaker capacity.
  • Get visibility and report results.
    • Meter data and analytics. Get advanced reporting on meter and other charging data in 15-minute increments, with up-to-the-minute data on station status.
Power management graphic

Taking it a step further

You can further realize ROI on a charging implementation at your residential properties by combining power management software with various other EV charging management features and services for a holistic solution that will help you meet your business goals. 

  • Set pricing according to different user groups to allow residents to charge for free and set a charging fee for visitors or charge different energy usage rates for different groups.
  • Schedule different stations to charge during nonpeak hours for lower utility costs.
  • Sign up for a subscription charging service that includes everything you need for a successful charging program — software, hardware and support services. 

Incentives for multifamily property owners are also available at the local, state and federal level to help you reduce upfront costs. And subscription service models make ongoing costs easy to budget for by bundling software, hardware, support and warranty services for a simple monthly fee. 

Want to learn more about EV charging for multifamily properties?

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