Here are a few of the FAQs many HOA board members have asked us:
Are there laws or regulations that can affect EV charger installation at my HOA? Absolutely, and this is where your EV vendor partner can make a big impact. California has numerous laws that might affect your HOA, and local governments have their own permitting requirements that can affect construction of a community EV charging station. Even your own HOA regulations and bylaws can affect construction and might need to be amended before construction can begin.
Can individual HOA members install chargers at their residence? The short answer is yes, provided those installations comply with all state, local and HOA regulations and safety guidelines. In many instances it will be more cost-effective (and less disruptive) to install a larger community charging station than to have each individual homeowner install and pay for their own charging station. That said, California law prohibits HOAs from preventing individual homeowners from installing their own chargers.
How do EV charging stations generate income? EV charging stations can generate income in two ways. First, through a usage fee – the fee drivers are charged when they charge their vehicle. This is generally based on kWh – kilowatt hour used. The second way EV charging stations make money is to charge a monthly fee per user that covers the power used and all preventive maintenance.
How do residents pay for charging? At some point in the process, the HOA board will determine the price of charging. The price is usually slightly above the cost of electricity, but it’s important to keep the price in line with other chargers in the area. Users can pay using a credit card or in some cases a QR code.
What is the profit margin on an EV charging station? This depends on several factors including primarily the financing method HOAs use to install their station. But estimates are 30% on the high end down to 10% on the low end.