Electric vehicles (EVs) are increasingly popular, and with this rise comes the need for convenient charging solutions. Many residents are considering integrating their EV charger costs with their regular utility bills for simplicity. While this seems convenient, there are several factors to consider before making this choice.
The most straightforward method involves installing a utility meter specifically for the EV charger. This allows direct billing from the utility company, usually included in the resident's regular electricity bill. However, this convenience comes at a significant cost: installing a separate utility meter can add an extra $1,000 to $5,000 to your expenses.
An alternative in single-family homes is to run the EV charger’s wire from the electrical panel connected to the resident's utility meter. This is more complicated in multi-unit housing, where the electrical panel near parking spaces is a shared resource, and the utility bill is for common property, not individual units.
Plugzio offers a different approach. Our products measure the electricity consumed by an individual user and bill them directly, based on the rate set by the property for usage. This method has several advantages over the traditional utility meter approach.
Utility meters are required to have an accuracy of under 1%, which is crucial for large-scale power management but less so for individual EV charging. A meter with a 5% accuracy variance might only cost a resident an extra $100 per year, while the high accuracy meters require costly calibration and regulatory compliance, including airtight, magnetic-proof enclosures and annual recalibration which would cost the resident or property significantly more than $100 per year over the long term.
Using a system like Plugzio allows property owners to recoup the costs of installation and maintenance by manually setting the cost for power access. This option is not available with standard utility meters. It also opens up opportunities for properties to generate additional revenue, which can be reinvested in expanding EV charging infrastructure.
To enhance user experience, Plugzio offers seamless activation for private parking spaces. Residents set up their Plugzio account once, and after that, charging sessions activate automatically, eliminating the need for daily activation. This feature adds significant convenience, particularly for regular EV users.
While integrating EV charger costs with utility bills seems convenient, it's crucial to consider the long-term financial implications and the potential benefits of alternative systems like Plugzio. These systems not only reduce initial and ongoing costs for residents but also offer revenue-generating potential for property owners and greater convenience for users. As the EV market continues to grow, exploring these innovative charging and billing solutions will become increasingly important for residents and property managers alike.