Imagine a tranquil world, void of the sound of engines and motors. It’s closer than you think. By 2030, over 50% of new car registrations in the US are expected to be EVs. As the number of electric vehicle drivers grows, the need for EV charging solutions will as well.
According to the Fuels Institute, EV drivers recharge their cars daily or once every two days. This means that the demand for convenient charging stations will increase, and most EV drivers will demand a charge point at their home or residence. Having the peace of mind that they can charge at home will ease the transition to EV and help reduce carbon emissions around the globe.
However, installing EV charging stations in multi-unit dwellings isn’t so simple, and charge point operators face many challenges in this endeavor. Below, we will highlight the main challenges they face and their solutions.
1. Limited Electrical Capacity in the Building
Electrical grids have been around for almost 150 years, but they are constantly challenged by the growing demand for electricity. As more people live in concentrated areas and become more dependent on electricity for day-to-day activities, it is inevitable that there will be occasional power outages.
This is not only true for the full grid, but in individual buildings. If several electric cars are charging at the same time, it is almost certain that the building’s power grid will not be able to support it. This is where EV Meter Core comes in, Nayax’s management suite. Its Smart Energy Management Module helps optimize energy consumption to maintain grid stability. It communicates with the grid and with the actively charging stations in real time, allowing for charge point operators to monitor the network and ensure its stability.
2. Difficulty Monitoring the Electricity Used for EV Charging
With electricity being used all throughout buildings, it is hard to monitor how much electricity is being used for EV charging on the building’s main electricity board. With EV Meter Core and the dedicated embedded meter in the charging station, CPOs can create customizable dashboards and easily track their charging network. This allows CPOs to get an accurate overview of how much electricity from each building goes to charging electric vehicles.
3. Billing Tenants for the Exact Amount of Electricity Used
EV Meter Core not only helps monitor how much of the building’s electricity is used for EV charging, but its billing and clearing services are able to accurately and efficiently invoice drivers for the exact amount of electricity they used. This makes charging at home more convenient for tenants, ensuring that everyone pays their fair share of the electricity, no more, no less. On top of charging for electricity, CPOs can also charge tenants a monthly service fee.
4. Managing and Operating the Charging Network
Efficiently managing a business is a challenge that all business owners face. There are so many things to keep track of that something is bound to fall through the cracks if it is all done manually. With EV Meter Core, Charge Point Operators can easily monitor their charging networks in real-time. With customizable dashboards, a visual map of charging locations and status, and real-time alerts, they can stay on top of their business anytime, anywhere. These tools help CPOs identify problems related to the charging network and access data about their charging stations.
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5. Protecting and Securing Charging Stations
And lastly comes the issue of security. Electricity is a sought-after commodity and a necessity for most, and power theft is becoming a growing issue. However, EV Meter Core’s robust system is so good at tracking and monitoring all EV energy use that power theft is nearly impossible. Every action, transaction, and charging session is tracked and monitored, and the CPO can receive alerts the minute something out of the ordinary occurs.
With Nayax’s solutions, you can rest assured that all of the challenges you face have a solution. Nayax is a technology-oriented company that is constantly working to improve conditions and accessibility for EV drivers and CPOs.
Want to grow your EV charging business? Contact us today.
