Challenge:
As most property owners did a few years ago, ‘Property Owner Y’ invested $14,000 to install two Blink Level 2 chargers at one of their multifamily properties in Georgia. The property owner pays ongoing maintenance fees of $360 per charger per year ($720 total) and pays a 15% commission to the CPO on kWh sold. With each charger generating about $60 per month, the net income after commission was $51 per charger per month. This meant the property owner was making only $1,224 in revenue annually while incurring $936 in costs, leaving them with just $288 in net income per year. This translated to an ROI of 48 years!! A completely impractical ROI by any standard, BUT this property owner is very forward-thinking and sees EV charging as an important amenity for residents.
At the recommendation of the CPO, the chargers were set up under a Sharing Economy model, which limited residents to four-hour charging sessions. After the four hours, a $5 per hour loitering penalty was imposed, designed to ensure chargers were shared. However, this led to low utilization as residents couldn't fully charge their vehicles in four hours and were frequently forced to rely on public chargers.
The situation worsened as residents became increasingly frustrated with the penalties. Many residents shared stories of returning home after work, starting a charging session, and setting alarms to move their cars before the four-hour limit, only to fall asleep and wake up to a hefty $40 penalty. These experiences led to numerous complaints to the property management.
Cable management was another significant issue. Some residents neglected to return the charging cable to its proper place, leaving it on the ground. This forced others to get out of their cars before parking to avoid running over the cables. Despite property management sending out reminders, the problem persisted. Additionally, one of the chargers was accidentally backed into, rendering it out of service for over 60 days. Another incident involved vandalism, where charging cables were cut (either by anti-EV crusaders or to be sold for copper). This is when Earth X stepped in to help.
Overall, the property owner was frustrated with the high costs, ongoing maintenance headaches, and constant complaints from residents about the chargers.
Solution:
Earth X stepped in to address these challenges by replacing the two Blink chargers with a single Earth X station, which offers three charging ports, at zero cost to the property owner. The new system provided immediate savings by eliminating the $720 in annual maintenance fees and by offering a charger that was specifically designed for challenges found at multifamily properties.
Earth X’s model allowed residents to charge their vehicles overnight without worrying about penalties or time restrictions, which was a significant improvement over the previous system. Additionally, Earth X’s EV Adoption Program helped residents understand if EV ownership was right for them (cost savings being one of the main reasons). By helping residents understand their options and how they can enjoy the convenience of at-home overnight charging with Earth X, we saw EV adoption increase at the property resulting in greater utilization.
Financial Impact:
With Earth X, the property’s charging station now generates an average of $650 per month in sales (a 5X increase). The property owner receives a handsome revenue share each month, which increases as more residents use the charge stations. This marks a significant improvement over the previous system, where the property was barely breaking even each year. The owner transitioned from an annual operating expense of $720 and a long 48-year ROI to a higher positive cash flow each year.
Additionally, Earth X's business model meant the property owner avoided any future capital expenditure entirely—had they contacted Earth X in the beginning, they would have saved the initial $14,000 investment and been cash flow positive from day one.
Resident Benefits:
Resident feedback has been overwhelmingly positive. Some residents mentioned that they had sold their EVs years earlier because charging at their apartment was too difficult, but now with Earth X, they were able to purchase EVs again and enjoy the cost savings. As demand for charging increased, Earth X added an additional charger at no cost to the property owner, demonstrating the system’s ability to scale easily and meet growing demand.
- Overnight Charging: Residents now have the convenience of parking for up to 24 hours without incurring loitering penalties, allowing them to fully charge their vehicles overnight.
- Cableless System: Earth X’s innovative bring-your-own-cable (BYOC) design eliminates issues related to vandalism, improper cable management, and the inconvenience of moving cables before parking. Residents own their Earth X charge cable and are responsible for taking care of it. As one person said, I like that I’m not touching someone else’s germs.
- Ease of Use: No more cumbersome apps, QR codes, or fobs—just a simple one-step plug-and-charge experience – for any make model really old to really new.
- Reliable Service: Earth X’s 100% Uptime Guarantee ensures that residents can always charge.
Property Benefits:
After one year, the results were transformative.
- Staff Time Saving: The property management team no longer has to deal with charger-related issues. Residents know to call Earth X directly for any questions or customer service issues.
- White-Glove Service: Earth X’s white-glove service handled every aspect of the Earth X charging system from design and permitting to installation and commissioning, all at no cost.
- Scale for $0: And as demand for charging increases, Earth X can easily add additional stations (again at no cost), staying ahead of the demand and ensuring a seamless charging experience for all residents.
- Eliminate Opex: The property owner saw a significant reduction in operational expenses, eliminating all Opex costs.
- Retention: Residents were so satisfied with the Earth X system that some renewed their leases specifically because of the convenience and reliability of Earth X – “we’re not selling our EV, and we’re not going to a property without Earth X”.
Conclusion:
For Property Y, switching to Earth X turned a costly and problematic EV charging setup into a profitable, hassle-free service that delighted residents. The property owner now enjoys significant cost savings, a new revenue stream, and a system that can scale effortlessly with future demand. Earth X provided residents with a seamless, easy-to-use charging experience, turning a frustrating situation into one where everyone benefits.
Earth X, There’s no place like home!
