When I recently saw a line of EV chargers going up in a downtown mixed use building, I just had to ask the property manager how they were going. There was a little surprise from him that anyone cared. "Honestly," he said, "I did not think it would make money. Now it pays for itself each and every month." That conversation stayed with me. Because not long ago, charging stations have been just an afterthought. Today, they're becoming a new type of asset.
Electric vehicles are no longer in the minority. In 2024 alone EV sales increased by more than 30%, according to the International Energy Agency. Global EV charging infrastructure followed suit with public charging points reaching above 4 million worldwide. If you are a property owner, this trend is relevant. Your parking space is now capable of doing a lot more than just holding cars, it can generate income.
As local governments continue to explore new policies and standards for charging stations, discussions like North Wales’ EV charger code update show how cities are preparing for the next wave of infrastructure growth.
Many property owners are beginning to see the opportunity. They're discovering that electric vehicle (EV) chargers are more than a sustainability gesture, they're a long-term business move. A charging station can help to attract tenants, increase property value, and provide a recurring revenue stream that is not dependent on rent.
The market is shifting fast. Studies show buildings with EV charging stations can often lease quicker and at higher rates. One multifamily developer in Texas I spoke with said prospective tenants were now asking as much about chargers as they did about gyms or pools. "It's just the new amenity," he said.
And he's right. For some renters, particularly those who are professionals and have electric vehicles, convenience is more important than cost. Those are willing to pay a little more for properties in which they can charge overnight. It's exactly the same reasoning that applied in the past to in-unit laundry or high-speed wifi. Tenants don't perceive it as luxury anymore, they perceive it as the norm.
For commercial properties it's similar. Customers will stay longer if they can charge while shopping for items, dining at restaurants, or working in places. In addition to helping businesses meet sustainability targets, installing EV charging infrastructure enables businesses to boost foot traffic and loyalty.
According to the New York State Energy Research and Development Authority (NYSERDA), installing EV charging stations can turn a property into a destination for electric vehicle owners. Their research shows that adding charging infrastructure not only supports sustainability goals but also creates new income opportunities through usage fees. For property owners, this means every parking spot equipped with a charger can serve as both an amenity and a revenue generator.
Now not every property owner wants to deal with installing and maintaining, and billing. That's where EV Charging as a Service comes in. It's the partnership model where a third-party provider installs, owns and operates the chargers on your site. You provide the space as well as electricity, they take care of the rest. In exchange, you receive a percentage of each charging session, or a flat lease fee.
This model reduces your risk. You don't need to purchase expensive hardware and deal with software updates. You let the experts run the business, while you collect the passive income. I've seen owners that started with just two chargers and expanded to 10 almost overnight when they saw the steady flow of cash flow.
Let's discuss how this works in reality. Setting up commercial EV charging begins with site evaluation. You'll need to know the electrical capacity and parking plan for your building. A site assessment will tell you how many chargers you can realistically install and what makes sense, Level 2 for steady overnight use or DC fast chargers for high traffic areas.
Once you have that clear, you work with your CaaS provider to devise a plan. They'll handle the permits, sourcing of equipment, installation and connection to the charging network. Most have branded dashboards where you can track usage and revenue. Some states are helping property owners offset setup costs through incentives like the Pennsylvania bill reducing charging station installation expenses.
If you want to own the chargers yourself, there is added initial cost, but there is also added control and ROI. Either way, it's in the interest of long-term value. EVs aren't going anywhere and future-proofing your property means getting ahead of the curve now.
The market for the U.S. EV charging infrastructure worth more than $5 billion in 2024 and facing large growths of over 30% annually. According to McKinsey, we will see global investment of $100+ billion into charging networks by 2030. That's not a trend, that's a shift.
State initiatives such as the Shapiro Administration’s charger network funding program are accelerating EV charging infrastructure upgrades and expanding access for both public and private property owners.
Here's what property owners are discovering. A single Level 2 Charger can produce $500 to $800 in annual profit after costs. Multiply that by 10 or 20 chargers and you've added a recognizable new revenue stream with no new build.
If you install EV charging yourself, your payback period is normally three to six years based on electricity usage rates and prices. But in CaaS models your ROI begins right away as the provider covers all installations. You earn without waiting for capital back.
The U.S. Department of Transportation’s Alternative Fuels Data Center (AFDC) highlights how property owners can earn revenue by leasing space for EV charging infrastructure to third-party providers. This model allows businesses to profit from hosting charging stations without managing installation or maintenance. It also underscores how strategic partnerships can make EV charging a low-risk, long-term investment for property owners.
It's smart to start small. Start with a small number of chargers, monitor demand and expand when you can see steady use. You will probably find that once tenants experience the convenience, the word spreads.
There are difficulties, of course. Demand charges could be tricky, especially in the case of fast chargers with high power draw. You'll also need to coordinate with utilities to help ensure grid readiness. Some local permitting can be slow and inconsistent. Local councils are already integrating EV infrastructure grants into transportation planning, such as Perkasie Borough’s endorsement of a federal charging grant.
But with any new technology there are growing pains. The key is to use partners who know the process and can guide you through it. It's also a good idea to choose open network chargers so you're not tied into a single vendor.
Maintenance is another factor. Chargers do break but a good partner takes care of repairs in a short while. That's what's the difference between professional charging solutions and one-off installations.
A multifamily community in Colorado put up eight EV chargers last year (2023!). They initially thought this would be a "nice to have" amenity. A year later 40% of new tenants stated that the chargers factored into their leasing decision. Occupancy increased by 6% and the value of property increased significantly.
In another example, one retail center in California joined forces with a CaaS provider and now makes about $1,200/month from charger revenue. The owner shared with me that it's not about the money or anything, it's about positioning the property as modern and sustainable.
These stories are becoming the norm. Property owners everywhere are coming to the realization that EV charging stations aren't mere infrastructure, they're branding tools. They demonstrate to customers and tenants that you care where the market is headed.
EV adoption continues to grow. Governments are imposing their own goals for emissions-reduction, automakers are changing entire product lines, and EV drivers need to be able to plug in reliably. The businesses which adapt early on are the ones which benefit most.
For you as a property owner the chance is obvious. Whether you are in charge of managing multifamily housing, office buildings or retail centers, advanced charging is real estate that you already control for others. You just need the right charging solution to monetise it.
Every charging station you install is more than a plug, it's a small piece of infrastructure that is supporting the future of transportation. And that makes your property part of that transition.
EV charging isn't about being sustainable or even about convenience. It's a strategic investment. One that enhances the attractiveness of your property, benefits tenants and pays long-term dividends.
We're at a point where "install EV charging" isn't a bold move anymore, it's expected. As EV adoption continues to rise, the properties with charging will stand out like an apple while those without will be catching up all the way to the chase.
Maybe you've been on the fence. Or maybe you're still wondering whether the numbers make sense. But if you recall back to Wi-Fi, to solar panels, or even to parking meters (the first kind, not the modern sensors that we use now) every large change began with someone who was willing to see potential before anyone else did.
So maybe it's time to take a fresh look at that empty parking space. It may be your next new revenue stream.
