Charging stations generate income for real estate

Purchasing and payback period of charging stations

Many properties are considering upgrading their parking areas and purchasing charging stations. Key questions include the cost of the investment and the payback period.

We examined the payback period in a 220-space parking lot where traditional heated posts were replaced with ePosts. The model took into account the impact of the ARA subsidy and the purchase and installation costs of the ePosts. After the ARA subsidies, the initial cost was €41,000 (€185 per parking space, incl. VAT). With the chosen pricing, the payback period is seven years. The following factors have been taken into account in the calculation:

• Electricity savings in heating mode

• Charging service revenue for the property

• Reduced maintenance requirements

• Monthly service fees

Benefits for the property and users

The service fee paid by the property starts at €2.5 per month per parking space (incl. VAT). The advantages of e-Pole are remote control, reduced need for maintenance, and automatic heating and charging management.

eTolpat offers the following features to users:

• Electric car charging facility

• Remote controlled heating

• Monitoring electricity usage

The property, in turn, receives continuous income from the charging service. The flexibility of e-Pole allows the service to be changed on a user-by-user basis – for example, from heating to charging when the driver changes.

The possibility of charging cars increases the value of the property both in sales and in the eyes of users. After repayment, the additional income of the property increases, allowing service prices to be reduced.

Charging service revenue

The car is assumed to be driven an average of 40 km per day, which corresponds to a charging requirement of approximately 11 kWh. The model assumes that charging is divided between home and workplace, resulting in a monthly consumption of 150 kWh.

According to pricing:

• The user pays €10/month for the download service.

• The price of electricity is 20 cents/kWh.

Based on this, the property will accrue income as follows:

• €71,000 in 10 years , when the charge is spread across multiple destinations

• €113,000 in 10 years , if charging only occurs at this location

The amount of loading has a significant impact on the property's revenue.

Resource savings and ease of management

eTolpa reduces the workload of the property manager through automated permit management and invoicing. eTolpa locks work without keys, and user management is mainly handled digitally. These savings are not included in the calculation, but they lighten the administrative burden on the property.

Additional income can also be generated by opening eTollbooths to public use. The property can decide on pricing and hours of use. This option is not included in the model calculation, but it is a significant way to increase occupancy and revenue. Caruna Laraustaivas is an example of a property where eTollbooths have also been opened to public use.

Development of the electric vehicle fleet

The electrification of transport is progressing rapidly. According to Trafi, 5% of the first-time registered cars in March 2020 were fully electric cars and 15% were plug-in hybrids. By 2030, it has been estimated that the combined share of these could be around 14%. In the area under review, 5% of the cars were already electric cars, and the modelling assumed that the development would continue in the same direction. In this case, 15% of the cars in the area would already be plug-in.

In properties where charging facilities are available, the share of electric car owners has grown significantly faster than the general trend.

Eco-timing and heating savings

It is possible to use eco-timing in eTolpä, where the heating time is determined by the outdoor temperature. The model assumed that all users would utilize eco-timing and that the heating service would be free for them. The savings calculation is based on temperature data for Kaisaniemi, Helsinki, from 2010–2019 in October–April, when the temperature is below +5 °C. Weather data for Tampere and Oulu was also included in the analysis. In the model, the car was heated five times a week, and the heating requirement was divided into hours of the day to take temperature fluctuations into account. The heating power was set to 1800 W, covering both interior and block heating. The timing of a traditional heating post was assumed to be two hours.

eTolpa's eco-timing works as follows:

• +5 °C – heating time 30 min.

• 0 °C – heating time 60 min

• -5 °C – heating time 90 min

• -10 °C – heating time 120 min

• -15 °C – heating time 150 min

The model did not calculate heating savings at temperatures above +5 °C, which makes the results more realistic, but slightly reduces the total percentage savings.

The results show that eco-timing brings the greatest relative savings in Helsinki, where electricity is saved by an average of 56% compared to traditional timing. In Oulu, the corresponding savings are 44% . It should be noted that the colder the weather, the less relative savings are achieved. At the same time, however, it is ensured that the car warms up sufficiently. Ultimately, the amount of electricity saved in kilowatt hours is almost the same in different cities, although the savings percentages differ.

In addition, eTolpa's remote controllability brings added value to users that was not directly assessed in the financial savings calculation.