When The Bottling Plant Residences opened in March 2020 in Frederick, Md., it had two residents with electrical autos residing on the 86-unit neighborhood. Since then, the quantity has jumped to 12.
Okay. David Meit, CPM®, Principal of Oculus Realty, AMO®, sensed popping out of the pandemic, the demand for EVs would improve, significantly amongst higher-income earners residing in luxurious residences.
Meit deliberate so as to add a pair of EV charging stations at The Bottling Plant and reached out to one of many main nationwide suppliers. He rapidly realized that this firm, which gave off an “boastful” vibe and supplied subpar customer support was not going to work.
So, he rapidly pulled the plug on them and started researching three different suppliers.
In Xeal Power, He discovered its proprietary know-how he felt was uniquely higher. Xeal Power’s charging platform leverages its patent-pending Apollo protocol, which makes use of encrypted tokens and distributed ledger know-how for connectivity, eliminating the necessity for pricey IT/community infrastructure and upgrades totally, lowering capex and maximizing ROI.
The app-based product runs on token know-how as an alternative of counting on the neighborhood’s Wi-Fi system, which at instances will be inconsistent with an software equivalent to EV charging. This may be as a result of a number of elements, together with bandwidth, utilization, and the central hub quantity.
Xeal Power’s holistic know-how additionally empowers proprietor/operators to put in as much as 3x as many charging stations with out electrical upgrades and with out putting in pricey IT infrastructure.
“As a result of we will run the electrical energy traces by way of our property’s infrastructure, it solely took a half-day to put in them,” Meit mentioned. He’s additionally trying to set up 4 charging stations at a 111-unit condo neighborhood in Chevy Chase, Md.
Offering Uptime and Independence
As a result of Xeal’s know-how just isn’t reliant on a Wi-Fi or mobile connection, it’s assured to offer 99% up time. Residents absolutely function the station by way of an app, which permits for scheduling charging instances and direct fee from a bank card. Meit and his property are free from dealing with the fee course of.
Xeal screens and companies its stations remotely, and sometimes could make needed fixes remotely.
From the system’s dashboard, Meit can entry in real-time its use by time of day and by resident. By a 60-percent income share with Xeal, he can observe ancillary revenue, although he mentioned {dollars} earned are minimal.
“I didn’t set up it to be a money-maker,” Meit mentioned. “The income is sufficient to pay for the power it wants whereas additionally offering an incredible and standard amenity that we will promote in our advertising.”
Prices and Rebates
Set up for the 2 stations on the condo neighborhood price $12,188 whole. The property earned a $4,320 rebate from the state of Maryland for the 2 chargers.
Final quarter, he earned $300 in ancillary revenue. He’s trying so as to add two extra stations at The Bottling Plant and can set up 4 at a 60-year-old purchasing heart property he owns in Kensington, Md. Putting in charging stations in older properties could take longer as a result of electrical wants on the property, Meit mentioned.
“There’s a Chipotle and a 5 Guys restaurant within the purchasing heart and this can be a likelihood to draw clients who’re charging their EVs whereas they’re there to eat or store,” Meit mentioned.
Meit mentioned the time to offer an EV a full cost varies broadly based mostly on the kind of automobile and the kind of battery it makes use of. For a Leaf or Volt mannequin, he mentioned it will probably take about six to eight hours. For a Tesla, it may be about three hours.
Cost Charges and Kwh
Price additionally varies, however Meit mentioned they vary from a number of {dollars} to over $30 per session averaging $6.71 per cost, based mostly on 86 fees being carried out over a latest three-month interval. He mentioned Xeal permits Meit to find out the cost fee, which is presently $.4545 per Kwh.
He mentioned lots of his condo residents do business from home, to allow them to discover handy instances to cost their vehicles whereas at residence.
As of 2022, Xeal’s stations are in each main market spanning 40 states and shall be rising by practically 500% over the subsequent yr, the corporate mentioned.
