Why Should Housing Associations Invest In EV Charging Stations?
With growing awareness, demand, too, is catching up. One in five prospective buyers was asking for charging provisions as an amenity- Ritesh Mehta, Head Residential Property Sales, JLL India.
India is actively adopting electric vehicles. To encourage the use of these vehicles the government is providing subsidies and other incentives for EV owners and buyers. It has always been an ambitious goal. EV sales are growing, but there are also real problems like the lack of charging infrastructure. Last year, Lodha Group said it is partnering with Tata Power to provide end-to-end electric vehicle charging solutions for all projects in the metropolitan areas of Mumbai and Pune. The charger is available to residents and guests of Lodhi.
Government incentives to encourage Housing societies to install EV chargers
The Maharashtra government aims to have 10% electric vehicles out of new car registrations by 2025. In order to promote that, the government announced a financial incentive on buying electric vehicles. Under Maharashtra's new electric vehicle policy, which will come into effect on March 31, 2025, Housing associations with charging stations will be exempted between 2% and 5% from property taxes. If a person installs a charging station for himself or another electric vehicle in the community, he will receive a 2 percent property tax return. If the housing association will install any charging station, the return per homeowner is 5%. In June, the Delhi government agreed to install a one-stop shop to boost up the installation in condominiums, condominium associations, hospitals, shopping malls, and theaters. In 2019, the Ministry of Housing, Urban and Rural Development ordered the allocation of parking spaces for electric vehicles in societies and apartments. According to the policy, the site will retain at least 20% of total vehicle parking spaces for electric vehicles in residential societies and commercial spaces. In July, Tata Power partnered with Hindustan Petroleum to provide end-to-end charging solutions to retailers in several major cities and roads. With the introduction of the AC charging standard for small electric vehicles in India in May last year, the market is expected to find low-cost, energy-efficient chargers that are easy to install in societies. The Delhi government approved funding to expand charging infrastructure for apartments, housing associations, hospitals, shopping centers, and many more places. The state government is also offering property tax benefits to local associations to build charging stations for electric vehicles.
The most important things to consider when investing in a housing association charging stations
1. Choose IoT-enabled chargers like Kazam 3.3 and Kazam Mini. Kazam Mini is a 3.3 KW AC Smart Charging Station available at an affordable price of Rs 7,500. It is a Wi-fi based IOT Enabled smart charger that supports almost all types of electric vehicles including Electric cars, Electric Scooters. Kazam 3.3 is a 3.3 KW AC Smart Charging Station available at an affordable price of Rs. 18,000. It is a SIM-based IoT Enabled charger that requires 3 Pinpoint and a 16A Socket Charger.
2. Understanding expenses and costs can be complex and can take a lot of work for housing societies. With normal charging stations, you usually can't see how much each passenger used the charging station. As a result, costs are often shared equally among the apartments, even though some homes use more units than others. If you invest in a good charging system, you will see how long each charger has been in use and by whom.
3. Investing in a more expensive system will save you money later. The same goes for charging costs, which will help you to save power peaks and electricity bills.
4. Don’t get attracted to investment costs. The cost of future operation of EV charging stations must be taken into account.
5. Choose that charger for your housing society that will complement your available capacity. You should look for a charging system that uses the building's standard electrical output. The most economical equipment is usually the equipment that can use the energy already present.