Benefits of Installing EV Chargers in your Condo

Electric cars are slowly taking space in our minds, hearts, and garages. It is an easy, quick online search that will let you know the benefits of having an electric car in Canada (for example, check CTV news article on what Canadians should consider when buying an electric vehicle). Intelligent car owners have opted for this green alternative also due today’s high gas prices. Here at JPlug.io we have gathered 5 benefits that might help you have a broader perspective on the subject.

Saves you Time

Let’s get straight to the point. Having the possibility to charge your electric car in your condominium saves you a lot of time, and you will have your vehicle ready, with a “full tank of charge”, for any inconvenience. Wouldn’t it be nice to wake up everyday with a “full tank” knowing that you won’t have to step a foot in a gas station ever again? Electric vehicle owners tend to charge their cars 80% of the time at home.

With JPlug.io you will be able to charge your Electric Vehicle from the comfort and security of your home parking space.

Saves you Money

We have felted how gas prices went high and will keep going up in line with the world’s political and economical climate. Check out or blog about how much it costs to charge an electric vehicle. But for the sake of this blog post, lets consider the Hyundai Kona that comes as a full electric vehicle (EV) and has a version with an internal combustion engine (ICE).

Very simple:

Hyundai Kona ICE 2.0L fuel economy: 7.4 L/100km combined.

At 160 cents per liter.

    \[{ \text{7.4 liters of gas} \over 100 km} \times {\text {1.60 dollars} \over \text{1 liter of gas}}\]

    \[={\text{11.8 dollars per 100 km}}\]

Or

    \[{ \text{11.8 dollars} \over 100 km}\]

    \[={\text{0.118 dollars or 11.8 cents per km}}\]

Hyundai Kona Preferred Electric: 15.4 kWh/100km combined

At 13 cents per kWh.

    \[{ \text{15.4 kWh} \over 100 km} \times {\text {0.13 dollars} \over \text{1 kWh}}\]

    \[={\text{2.00 dollars per 100 km}}\]

Or

    \[{ \text{2.00 dollars} \over 100 km}\]

    \[={\text{0.02 dollars or 2 cents per km}}\]

In Canada a car travels about 15,000 km per year on average. So if we want to determine how much it costs to drive a car per year:

ICE Kona travelling 15,000 km per year.

    \[= {\text{0.118 dollars} \over km} \times \text{15,000 km per year}\]

    \[={\text{1,770 dollars per year of gas}}\]

EV Kona at 15,000 km per year.

    \[= {\text{0.02 dollars} \over km} \times \text{15,000 km per year}\]

    \[={\text{300 dollars per year of electricity}}\]

Which one of the above would you rather pay? Those 300 dollars will even go further down if you charge overnight off-peak hours like most of us. Resulting in less than 25 dollars per month in your transportation budget. Check out our blog “How much does it cost to charge an EV in a Condo” for a detailed explanation of how much you will spend.

Now, if you live in a condo, it would be great to be able to have a charger in your parking spot that allows you to enjoy these savings of charging at home instead of paying 2 or more dollars per hour of charge at a mall parking lot.

Ahead of your time

In a few years, there will be more electric cars in Canada, so charging stations will also be scarce and people will start lining up on public chargers. Be one of the first to see ahead of the problem and avoid long waiting times. 

As of 2021 already more than 5% of cars sold in Canada were EVs and this number is on the rise. This number was taken from the Statistics Canada website and it is available for everyone to check.

Let us not forget to mention that early adopters have access to government incentives to get EV Chargers installations. Incentives will not last forever and right now there are a great amount of funds for people looking to install EV chargers on multi family dwellings and condominiums.

It is an investment for the future

Today, a condo’s parking space with access to electric vehicle charging can be sold on the market from 5,000 to 10,000 dollars more or less depending on it’s location relative to the city’s downtown. We got this information from real state agents that we have consulted about prices of parking spaces for electric vehicles. And it makes sense, wouldn’t you want to have the comfort of charging your car right at home?

Or, if you are a real state investor looking for properties you want to rent, offering EV charging in your parking spaces will attract educated tenants that figured out the math of point 2 of this blog before many others. Educated tenants means better care for your property, higher paying jobs that allow them to pay rent on time and great references of your property for the future.

Reduce Pollution to the Environment

Even if you don’t care much about the environment, you will be doing a great contribution to the generations of human population that will inhabit our planet on the next 100 years. Less contamination means better air to breathe, less adverse weather events due to climate change like random tornados, and a happy planet that will support the living of many generations to come.

There are many other benefits of installing EV Chargers in your condo parking space that we haven’t spoken about this time, like they can also mean an extra income to your condo corporation. If you have more ideas, we are happy to chat about them or even give you a space in our blog.

Level 2 EV Chargers at underground parking lot

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