Condo board considers installing EV chargers for unit owners

Ilyce Glink and Samuel J. Tamkin, Tribune Content Agency on Apr 11, 2024

3. Level three charging stations run on 480- or 1000-volt power and can charge an electric vehicle in under an hour. But the power needs of a level three station are huge and may be too much for a small or even medium-size building. That’s why you usually only see level three charging stations in front of large big-box stores or in designated large charging stations.

Given all of this, a level two charging station may be the only option for your building. But you might consider whether your building has sufficient capacity from the electric company to handle an EV charging station in a common area like your parking garage. If not, the installing company may want you to pay for the installation of their station. And, in this case, you might just be better off seeing whether you might want to install your own charging station.

The next question is how to share the cost of the charging station and the usage. Does every owner own an EV? Or is it a few owners? Some electric vehicle owners install their own charging stations for their own exclusive use. The wiring would go to that owner’s own electric meter. That owner would bear the cost of the installation and would also pay for any electric consumption on their electric bill.

You may want to investigate these different options to see if any of them work for your building. Key considerations are how the parking area is configured, the location of the electric meters and the main electric panel for the building.

Once you do a bit more research, you may find an electrician with recommendations for a solution that meets your needs. We hope this helps; let us know what you decide.

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(Ilyce Glink is the author of “100 Questions Every First-Time Home Buyer Should Ask” (4th Edition). She is also the CEO of Best Money Moves, a financial wellness technology company. Samuel J. Tamkin is a Chicago-based real estate attorney. Contact Ilyce and Sam through her website, ThinkGlink.com.)