National Grid Enables the Largest Buffalo-Based Multi-Unit Housing Complex To Offer EV Charging Stations

Rhea-AI Summary

National Grid:Axis 360 Apartments (NGG) installs largest EV charging installation at a multi-unit apartment complex in Western New York

Insights

Energy Industry Analyst

The installation of 18 Level 2 EV charging plugs at Axis 360 Apartments, facilitated by National Grid's Electric Vehicle Make-Ready Program, represents a significant development in the infrastructure for electric vehicles (EVs) within the multi-unit residential sector. This initiative not only underscores the growing demand for EV charging solutions but also highlights the role of utility incentives in accelerating the adoption of clean transportation technologies.

From an energy industry perspective, this move signals a progressive shift towards EV readiness in residential complexes, which is critical given the expected rise in EV ownership. The strategic investment in EV infrastructure can enhance property appeal, potentially increasing occupancy rates and rental values due to the added convenience for residents. Moreover, the project's alignment with environmental leadership can strengthen the market position of Axis 360 by appealing to environmentally conscious consumers.

Long-term implications for stakeholders include the potential for increased energy consumption and the need for grid modernization to support a larger fleet of EVs. However, this also presents opportunities for utilities like National Grid to engage in new business models and partnerships, as evidenced by their collaboration with PPR Energy Solutions. The readiness to expand charging facilities in the future is a prudent approach, considering the anticipated growth in the EV market.

Financial Analyst

The investment by Axis 360 in EV charging infrastructure, with substantial support from National Grid's Make-Ready Program, has financial implications for multiple stakeholders. By covering over 70% of the project costs, National Grid is effectively subsidizing the transition to EVs, which could lead to a shift in the energy consumption patterns and potentially higher utility revenues in the long run.

For Axis 360, the upfront cost savings and the added property value due to the charging amenities represent a significant financial benefit. The ability to attract new tenants and possibly command higher rents could result in a favorable return on investment. This is particularly relevant in competitive housing markets where differentiation is key to attracting and retaining tenants.

From an investor's standpoint, National Grid's active role in supporting EV infrastructure projects may reflect positively on the company's commitment to sustainable practices, which could influence investor sentiment and potentially impact stock performance. The focus on future-proofing electrical infrastructure also indicates a strategic approach to long-term capital investments, which is an important consideration for long-term investors.

Environmental Policy Expert

The collaboration between National Grid and Axis 360 to install EV charging stations is a microcosm of the broader policy-driven push towards a cleaner transportation future. The significant coverage of installation costs by National Grid's Make-Ready Program reflects a policy environment that encourages the reduction of greenhouse gas emissions through the promotion of EVs.

Such initiatives can serve as a model for how public-private partnerships can be structured to drive environmental change. The environmental leadership demonstrated by Axis 360 may inspire similar actions across the housing industry, potentially leading to a more widespread adoption of EV charging infrastructure in multi-unit dwellings.

The long-term environmental benefits of this trend include reduced carbon emissions and improved urban air quality. However, there are challenges to be addressed, such as ensuring that the electricity used for charging comes from renewable sources and managing the increased demand on the electrical grid.

BUFFALO, NY / ACCESSWIRE / December 20, 2023 / National Grid:

Axis 360 Apartments, through National Grid's Electric Vehicle Make-Ready Program, has installed 18 Level 2 EV charging plugs for its residents, making it the largest EV charging installation at a multi-unit apartment complex in Western New York.

Axis 360 Management Team Member Sarah Korniczky said that tenants, many of whom are University at Buffalo students, now enjoy the convenience of charging their vehicles at their doorsteps and whenever they like. She added that National Grid and PPR Energy Solutions, the contractor that installed the charging stations, made the process easy.

"The entire process went so smoothly and quickly; it was incredible," Korniczky said. "On our behalf, PPR completed the application for the National Grid incentives, which covered a very significant portion of the cost, including 100% of the installation costs. We're excited to be providing this additional amenity for those who live at Axis360. And with the charging stations now in place, we'll be able to attract new tenants."

Korniczky echoed the sentiments of prior customers who have participated in National Grid's program. As property owners, they know that they're providing value to tenants, customers and visitors when they install EV charging stations at their sites. They also reap the benefits of differentiating their properties from others in a competitive housing market and establishing their businesses as environmental leaders.

National Grid's Make-Ready Program covered more than 70% of Axis 360's total project costs. Plus, as a future-proofing measure, Axis 360 took advantage of additional National Grid funding to add to its existing electricity infrastructure, which better prepares them to expand their charging facilities at a later date.

"Our Make-Ready Program is built for all companies and all industries, and is particularly attractive for multi-unit dwellings," said Whitney Skeans, lead program manager of National Grid's EV Make-Ready Program. "The Axis 360 project represents the most EV charging plugs installed at a Buffalo apartment complex to date. More importantly, it underscores the kind of innovative, forwardthinking leadership required to build a clean transportation future. And while we're still in the beginning stages of this journey, it all starts with building the infrastructure for the vehicles that will take us there."

More about National Grid's Make-Ready Program

National Grid's Upstate New York EV Make-Ready Program helps business customers fund up to 100% of project costs related to installing electricity infrastructure. Projects like Axis 360's demonstrate how National Grid collaborates with customers toward a shared, clean energy transition.

Projects like this also align with New York State's climate action initiatives that call for reduced greenhouse gas emissions, improved air quality and zero-emission vehicle regulations by 2035. New York State provided additional support to meet these goals in November when it announced additional infrastructure funding to accelerate electric vehicle adoption and stimulate $4 billion in EV charging infrastructure investments.

More information about National Grid's EV Make-Ready Program is available in this downloadable brochure, or by emailing EVNationalGridUNY@nationalgrid.com.

About National Grid

National Grid (NYSE: NGG) is an electricity, natural gas, and clean energy delivery company serving more than 20 million people through our networks in New York and Massachusetts. National Grid is focused on building a smarter, stronger, cleaner energy future - transforming our networks with more reliable and resilient energy solutions to meet state climate goals and reduce greenhouse gas emissions.

For more information, please visit our website, follow us on X (formerly Twitter), watch us on YouTube, like us on Facebook and find us on Instagram.

Whitney Skeans, lead program manager of National Grid's EV Make-Ready Program and Nick Korniczky, management team member of Axis 360 Apartments, flank two of Axis 360's 18 Level 2 charging plugs. The recently completed project was made possible thanks to National Grid's EV Make-Ready Program and the largest EV charging installation at a multi-unit apartment complex in Western New York.

View additional multimedia and more ESG storytelling from National Grid on 3blmedia.com.

Contact Info:

Spokesperson: National Grid
Website: https://www.3blmedia.com/profiles/national-grid
Email: info@3blmedia.com

SOURCE: National Grid

View the original press release on accesswire.com

FAQ

What is the significance of the EV charging installation at Axis 360 Apartments by National Grid (NGG)?

The installation of 18 Level 2 EV charging plugs at Axis 360 Apartments by National Grid is the largest at a multi-unit apartment complex in Western New York, providing convenience for residents, especially University at Buffalo students.

Who installed the EV charging stations at Axis 360 Apartments and what was the process like?

PPR Energy Solutions, the contractor, installed the charging stations. The process was facilitated by National Grid, covering a significant portion of the cost, including 100% of the installation costs.

What benefits do property owners gain from participating in National Grid's Make-Ready Program?

Property owners provide value to tenants, customers, and visitors, differentiate their properties in a competitive housing market, and establish their businesses as environmental leaders.

How much of Axis 360's total project costs did National Grid's Make-Ready Program cover?

The program covered more than 70% of Axis 360's total project costs, including additional funding for future-proofing measures to expand their charging facilities at a later date.

Who is the lead program manager of National Grid's EV Make-Ready Program and what is the program designed for?

Whitney Skeans is the lead program manager, and the program is built for all companies and industries, particularly attractive for multi-unit dwellings.