Because Inquiring Minds Want to Know...
Frequently Asked Questions
The Inflation Reduction Act became law in August 2022, it provided a tax credit for up to 30% of the cost of qualified EV charging “property.” The tax credit is calculated based upon 30% of the system cost after reducing any rebates paid by utility or municipalities.
Rebates are dependent upon the state, city and or utility that the proeprty is located in. Contact us for rebates and incentives for your specific area.
Charging time is the car’s battery size and the voltage of the EV charger and the state of charge of the battery. Level 2 chargers are AC and typically rated at 11-30 kW. It would take 5-6 hours to charge a typical battery 70% of it capacity. Level 3 DC fast chargers range from 30-350 kW. They can provide the same charging in 20-60 minutes.
Having a charging station is like having a small retail “gas” station that generates income. But the real value is in your business or properties ability to be able to attract customers who want or need ev charging and are likely to spend more time and money at your place of business if you offer it. The number of EV’s on the road is growing and more and more people are going to make their decisions of the businesses they frequent based upon the ability to charge their car while there.
Right now the tax credits and rebates provided by the government and utilities subsidize a significant portion of the system costs. As the demand increases, the incentives will reduce until the market will support the business opportunity without subsidy. Also the EV charging infrastructure is up for grabs and the people that stake their claim first will have an advantage in the future as latecomers in the market will be less likely to compete, particularly since the incentives will eventualy trend to ZERO.
Yes, to build out one of the largest infrastructure projects this country has seen since the US Highway system, requires a significant amount of capital to make it happen. EV Street has created some unique opportunities to enable people to take
The electricity used to charge the car battery is billed at Time of Use and will change during the time of day. The pricing would be reflected on the costs. The cost of electricity ranges from .20-.40 per kWh of electricity. The actual market up if market driven and determined by the owner but a typical price would be $.10-.20 above that depending upon the time of day.
First off, not all properties will qualify for the no cost option as EV street will need to approve the location and use of the property. Assuming this was a suitable site for EZ EV, the owner of the property or business may want to take advantage of the tax advantages and profit that can be gained by ownership want 100% of the gain and willing to take 100% of the risk as opposed to taking a smaller percentage risk free.
EV charging is another source of revenue for the business and the profits generated would increase the Net Operating Income of the business. The value of the business is a multiple of the net operating income of the business/property. For instance an apartment building would typically sell at a capitalized value of 5-7% of the NOI. If the NOI from charging is $10,000 per year and the Capitalization rate for the apartment was 6%, the property value would increase theorectically increase by $166,000. The increase in value depends upon the property and business, but the income adds significant value.
28 million charging ports by 2030 to fuel the 33 million EV are 33 In the past 12 years only 136,000 EV ports have been installed. By 2030 2,000,000 public level 2 charger will be required. Level 2 chargers are the chargers that will be located at all the places people want to be. Of course that people that live in apartments will have to utilize level 2 chargers installed at their complex.
28 million charging ports by 2030 to fuel the 33 million EV are 33 In the past 12 years only 136,000 EV ports have been installed. By 2030 2,000,000 public level 2 charger will be required. Level 2 chargers are the chargers that will be located at all the places people want to be. Of course that people that live in apartments will have to utilize level 2 chargers installed at their complex.
28 million charging ports by 2030 to fuel the 33 million EV are 33 In the past 12 years only 136,000 EV ports have been installed. By 2030 2,000,000 public level 2 charger will be required. Level 2 chargers are the chargers that will be located at all the places people want to be. Of course that people that live in apartments will have to utilize level 2 chargers installed at their complex.