Aboitiz receives another award for financing for its Tiwi and Makban geothermal plant


Aboitiz receives award

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AP Renewables Inc. Climate Bond Award recognizes Asia-Pacific project finance, with ADB and CNBC citing the first Climate Bond, geothermal refinancing in local currency, and CGIF-backed credit enhancement for emerging markets.

 

Key Points

An award for APRI's certified Climate Bond, highlighting ADB-backed financing and geothermal assets across Asia-Pacific.

✅ First Climate Bond for a single project in an emerging market

✅ ADB credit enhancement and CGIF risk participation

✅ Refinanced Tiwi and MakBan geothermal assets via local currency

 

The Asian Development Bank (ADB) and CNBC report having given the Best Project For Corporate Finance Transaction award to a the renewable energy arm of Aboitiz Power, AP Renewables Inc. (APRI), for its innovative and impactful solutions to key development challenges.

In March 2016, APRI issued a local currency bond equivalent to $225 million to refinance sponsor equity in Tiwi and MakBan. ADB said it provided a partial credit enhancement for the bond as well as a direct loan of $37.7 million, a model also seen in EIB long-term financing for Indian solar projects.

The bond issuance was the first Climate Bond—certified by the Climate Bond Initiative—in Asia and the Pacific and the first ever Climate Bond for a single project in an emerging market.

“The project reflects APRI’s commitment to renewable energy, as outlined in the IRENA report on decarbonising energy in the region,” ADB said in a statement posted on its website.

The project also received the 2016 Bond Deal of the Year by the Project Finance International magazine of Thomson Reuters, Asia Pacific Bond Deal of the Year from IJGlobal and the Best Renewable Deal of the Year by Alpha Southeast Asia, reflecting momentum alongside large-scale energy projects in New York reported elsewhere.

ADB’s credit enhancement was risk-participated by the Credit Guarantee Investment Facility (CGIF), a multilateral facility established by Asean + 3 governments and ADB to develop bond markets in the region.

APRI is a subsidiary of AboitizPower, one of Philippines’ biggest geothermal energy producers, and the IRENA study on the Philippines' electricity crisis provides broader context as it owns and operates the Tiwi and Makiling Banahaw (MakBan) geothermal facilities, the seventh and fourth largest geothermal power stations in the world, respectively.

“The awards exemplify the ever-growing importance of the private sector in implementing development work in the region,” ADB’s Private Sector Operations Department Director General Michael Barrow said.

“Our partners in the private sector provide unique solutions to development challenges — from financing to technical expertise — and today’s winners are perfect examples of that,” he added.

The awarding ceremony took place in Yokohama, Japan during an event co-hosted by CNBC and ADB at the 50th Annual Meeting of ADB’s Board of Governors.

The awards focus on highly developmental transactions and underline the important work ADB clients undertake in developing countries in Asia and the Pacific.

 

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Is it finally time to buy an electric car?

Electric Vehicles deliver longer range, faster charging, and broader price options, with incentives and lease deals reducing costs; evaluate performance, home charging, road trip needs, and vehicle types like SUVs, pickups, and vans.

 

Key Points

Electric vehicles are battery-powered cars that cut costs, boost performance, and charge at home or at fast stations.

✅ Longer range and faster charging reduce range anxiety

✅ Lower operating costs vs gas: fuel, maintenance, incentives

✅ Home Level 2 charging recommended; plan for road trips

 

Electric cars now drive farther, charge faster and come in nearly every price range. But when GMC began promoting its Hummer EV pickup truck to be released this year, it became even clearer that electric cars are primed to go mainstream for many buyers.

Once the domain of environmentalists, then early adopters, electric vehicles may soon have even truck bros kicking the gasoline habit, though sales are still behind gas cars in many markets.

With many models now available or coming soon — and arriving ahead of schedule for several automakers — including a knockoff of the lovable Volkswagen Microbus — you may be wondering if it’s finally time to buy or lease one.

Here are the essential questions to answer before you do.

(Full disclosure: I’m a convert myself after six years and 70,000 gas-free miles.)


1. Can you afford an electric car?
Electric vehicles tend to be pricy to buy but can be more affordable to lease. Finding federal, state and local government incentives can also reduce sticker shock. And, even if the monthly payment is higher than a comparable gas car, operating costs are lower.

Gas vehicles cost an average of $3,356 per year to fuel, tax and insure, while electric cost just $2,722, according to a study by Self Financial, and Consumer Reports finds EVs save money in the long run too. Find out how much you can save with the Department of Energy calculator.

 

2. How far do you need to drive on a single charge?
Although almost 60 percent of all car trips in America were less than 6 miles in 2017, according to the Department of Energy, the phrase “range anxiety” scared many would-be early adopters.

Teslas became popular in part because they offered 250 miles of range. But the range of many electric vehicles between charges is now over 200 miles; even the modestly priced Chevrolet Bolt can travel 259 miles on a single charge.

Still, electric vehicles have a “road trip problem,” according to Josh Sadlier, director of content strategy for car site Edmunds.com. “If you like road trips, you almost have to have two cars — one for around town and one for longer trips,” he says.

 

3. Where will you charge it?
If you live in an apartment without a charging station, this could be a deal breaker.

The number of public chargers increased by 60 percent worldwide in 2019, according to the International Energy Agency. While these stations — some of which are free — are more available, most electric vehicle owners install a home station for faster charging.

Electric vehicles can be charged by plugging into a common 120-volt household outlet, but it’s slow, and understanding charging costs can help you plan home use. To speed up charging, many electric vehicle owners wind up buying a 240-volt charging station and having an electrician install it for a total cost of $1,200, according to the home remodeling website Fixr.

4. What will you use the car for?
While there are a few luxury electric SUVs on the market, most electric vehicles are smaller sedans or hatchbacks with limited cargo capacity. However, the coming wave of electric cars are more versatile, and many experts expect that within a decade these options will be commonplace, including vans, such as the Microbus, and trucks, such as an electric version of the popular Ford F-150 pickup.

5. Do you enjoy performance?
This is where electric vehicles really shine. According to automotive experts, electric cars beat their gas counterparts in these ways:

Immediate response with great low-end acceleration, particularly in the 0-30 mph range.
Sure-footed handling due to the heavy battery mounted under the car, giving it a low center of gravity.
No “shift shock” from changing gears in a conventional gas car’s transmission.
Little noise except from the wind and tires.

 

Other factors
Once you consider the big questions, here are other reasons to make an electric car your next choice:

Reduced environmental guilt. There is a persistent myth that electric vehicles simply move the emissions from the tailpipe to the power generating station. Yes, producing electricity produces emissions, but many electric vehicle owners charge at night when much of the electricity would otherwise be unused. According to research published by the BBC and evidence that they are better for the planet in many scenarios electric cars reduce emissions by an average of 70 percent, depending on where people live.

Less time refueling. It takes only seconds to plug in at home, and the electric vehicle will recharge while you’re doing other things. No more searching for gas stations and standing by as your tank gulps down gasoline.

No oil changes. Dealers like a constant stream of drivers coming in for oil changes so they can upsell other services. Electric vehicles have fewer moving parts and require fewer trips to the dealership for maintenance.

Carpool lanes and other perks. Check your state regulations to see if an electric vehicle gets you access to the carpool lane, free parking or other special advantages.

Enjoy the technology. Yes, electric vehicles are more expensive, but they also tend to offer top-of-the-line comfort, safety features and technology compared with their gas counterparts.

 

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Stiff EPA emission limits to boost US electric vehicle sales

EPA Auto Emissions Proposal 2027-2032 sets strict tailpipe emissions limits, accelerating electric vehicle adoption, cutting greenhouse gases, advancing climate policy, and reducing oil dependence through battery-electric cars and trucks across U.S. markets.

 

Key Points

An EPA plan setting strict tailpipe limits to drive EV adoption, cut greenhouse gases, and reduce oil use in vehicles.

✅ Cuts GHGs 56% vs. 2026 standards; improves national air quality.

✅ Targets up to two-thirds EV sales by 2032 nationwide.

✅ Reduces oil imports by about 20 billion barrels; lowers costs.

 

The Biden administration is proposing strict new automobile pollution limits that would require up to two-thirds of new vehicles sold in the U.S. to be electric by 2032, a nearly tenfold increase over current electric vehicle sales.

The proposed regulation, announced Wednesday by the Environmental Protection Agency, would set tailpipe emissions limits for the 2027 through 2032 model years that are the strictest ever imposed — and call for far more new EV sales than the auto industry agreed to less than two years ago, a shift aligned with U.S. EV sales momentum in early 2024.

If finalized next year as expected, the plan would represent the strongest push yet toward a once almost unthinkable shift from gasoline-powered cars and trucks to battery-powered vehicles, as the market approaches an inflection point in adoption.

The Biden administration is proposing strict new automobile pollution limits that would require up to two-thirds of new vehicles sold in the U.S. to be electric by 2032, a nearly tenfold increase over current electric vehicle sales.

The proposed regulation, announced Wednesday by the Environmental Protection Agency, would set tailpipe emissions limits for the 2027 through 2032 model years that are the strictest ever imposed — and call for far more new EV sales than the auto industry agreed to less than two years ago, a direction mirrored by Canada's EV sales regulations now being finalized.

If finalized next year as expected, the plan would represent the strongest push yet toward a once almost unthinkable shift from gasoline-powered cars and trucks to battery-powered vehicles, with many analysts forecasting widespread adoption within a decade among buyers.

Reaching half was always a “stretch goal," given that EVs still trail gas cars in market share and contingent on manufacturing incentives and tax credits to make EVs more affordable, he wrote.

“The question isn’t can this be done, it’s how fast can it be done,” Bozzella wrote. “How fast will depend almost exclusively on having the right policies and market conditions in place.”

European car maker Stellantis said that, amid broader EV mandate debates across North America, officials were “surprised that none of the alternatives” proposed by EPA "align with the president’s previously announced target of 50% EVs by 2030.''

Q. How will the proposal benefit the environment?

A. The proposed standards for light-duty cars and trucks are projected to result in a 56% reduction in projected greenhouse gas emissions compared with existing standards for model year 2026, the EPA said. The proposals would improve air quality for communities across the nation, and, with actual benefits influenced by grid mix — for example, Canada's fossil electricity share affects lifecycle emissions — avoiding nearly 10 billion tons of carbon dioxide emissions by 2055, more than twice the total U.S. CO2 emissions last year, the EPA said.

The plan also would save thousands of dollars over the lives of the vehicles sold and reduce U.S. reliance on approximately 20 billion barrels of oil imports, the agency said.

 

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The American EV boom is about to begin. Does the US have the power to charge it?

EV Charging Infrastructure accelerates with federal funding, NEVI corridors, and Level 2/3 DC fast charging to cut range anxiety, support apartment dwellers, and scale to 500,000 public chargers alongside tax credits and state mandates.

 

Key Points

The network of public and private hardware, software, and policies enabling reliable Level 2/3 EV charging at scale.

✅ $7,500/$4,000 tax credits spur adoption and charger demand

✅ NEVI funding builds 500,000 public, reliable DC fast chargers

✅ Equity focus: apartment, curbside, bidirectional and inductive tech

 

Speaking in front of a line of the latest electric vehicles (EVs) at this month’s North American International Auto Show, President Joe Biden declared: “The great American road trip is going to be fully electrified.”

Most vehicles on the road are still gas guzzlers, but Washington is betting big on change, with EV charging networks competing to expand as it hopes that major federal investment will help reach a target set by the White House for 50% of new cars to be electric by 2030. But there are roadblocks – specifically when it comes to charging them all. “Range anxiety,” or how far one can travel before needing to charge, is still cited as a major deterrent for potential EV buyers.

The auto industry recently passed the 5% mark of EV market share – a watershed moment, arriving ahead of schedule according to analysts, before rapid growth. New policies at the state and local level could very well spur that growth: the Inflation Reduction Act, which passed this summer, offers tax credits of $4,000 to purchase a used EV and up to $7,500 for certain new ones. In August, California, the nation’s largest state and economy, announced rules that would ban all new gas-powered cars by 2035, as part of broader grid stability efforts in the state. New York plans to follow.

So now, the race is on to provide chargers to power all those new EVs.

The administration’s target of 500,000 public charging units by 2030 is a far cry from the current count of nearly 50,000, according to the Department of Energy’s estimate. And those new chargers will have to be fast – what’s known as Level 2 or 3 charging – and functional in order to create a truly reliable system, even as state power grids face added demands across regions. Today, many are not.

Last week, the White House approved plans for all 50 states, along with Washington DC, and Puerto Rico, to set up chargers along highways, unlocking $1.5bn in federal funding to that end, as US automakers’ charger buildout to complement public funds. The money comes from the landmark infrastructure bill passed last year, which invests $7.5bn for EV charging in total.

But how much of that money is spent is largely going to be determined at the local level, amid control over charging debates among stakeholders. “It’s a difference between policy and practice,” said Drew Lipsher, the chief development officer at Volta, an EV charging provider. “Now that the federal government has these policies, the question becomes, OK, how does this actually get implemented?” The practice, he said, is up to states and municipalities.

As EV demand spikes, a growing number of cities are adopting policies for EV charging construction. In July, the city of Columbus passed an “EV readiness” ordinance, which will require new parking structures to host charging stations proportionate to the number of total parking spots, with at least one that is ADA-accessible. Honolulu and Atlanta have passed similar measures.

One major challenge is creating a distribution model that can meet a diversity of needs.

At the moment, most EV owners charge their cars at home with a built-in unit, which governments can help subsidize. But for apartment dwellers or those living in multi-family homes, that’s less feasible. “When we’re thinking about the largest pieces of the population, that’s where we need to really be focusing our attention. This is a major equity issue,” said Alexia Melendez Martineau, the policy manager at Plug-In America, an EV consumer advocacy group.

Bringing power to people is one such solution. In Hoboken, New Jersey, Volta is working with the city to create a streetside charging network. “The network will be within a five-minute walk of every resident,” said Lipsher. “Hopefully this is a way for us to really import it to cities who believe public EV charging infrastructure on the street is important.” Similarly, in parts of Los Angeles – as in Berlin and London – drivers can get a charge from a street lamp.

And there may be new technologies that could help, exciting experts and EV enthusiasts alike. That could include the roads themselves charging EVs through a magnetizable concrete technology being piloted in Indiana and Detroit. And bidirectional charging, where, similar to solar panels, drivers can put their electricity back into the grid – or perhaps even to another EV, through what’s known as electric vehicle supply equipment (EVSE). Nissan approved the technology for their Leaf model this month.

 

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AZ goes EV: Rate of electric car ownership relatively high in Arizona

Arizona Electric Vehicle Ownership is surging, led by EV adoption, charging stations growth, state incentives, and local manufacturers; yet rural infrastructure gaps and limited fast-charging plugs remain key barriers to convenient, statewide electrification.

 

Key Points

Arizona Electric Vehicle Ownership shows rising EV adoption and incentives, but rural fast-charging access still lags.

✅ 28,770 EVs registered; sixth per 1,000 residents statewide

✅ 385 fast chargers; 1,448 Level 2 plugs; many not 24/7

✅ Incentives: lower registration, HOV access, utility rebates

 

For a mostly red state, Arizona has a lot of blue-state company when it comes to states ranked by electric vehicle ownership, according to recent government data.

Arizona had 28,770 registered electric vehicles as of June, according to the U.S. Department of Energy's Alternative Fuels Data Center, the seventh-highest number among states. When ownership is measured per 1,000 residents, Arizona inches up a notch to sixth place, with just over four electric vehicles per 1,000 people.

That rate put Arizona just behind Oregon and Colorado and just ahead of Nevada and Vermont. California was in the lead by far, with California's EV and charging lead reflected in 425,300 registered electric vehicles, or one for every 10.7 residents.

Arizona EV enthusiasts welcomed the ranking, which they said they have seen reflected in steady increases in group membership, but said the state can do better, even amid soaring U.S. EV sales this year.

"Arizona is growing by leaps and bounds in major areas, but still struggling out there in the hinterlands," said Jerry Asher, vice president of the Tucson Electric Vehicle Association.

He and others said the biggest challenge in Arizona, as in much of the country, is the lack of readily available charging stations for electric vehicles.

Currently, there are 385 public fast-charging plugs and 1,448 non-fast-charging plugs in the state, where charging networks compete to expand access, said Diane Brown, executive director with the Arizona Public Interest Research Group Education Fund. And many of those "are not available 24 hours a day, often making EV charging less convenient to the public," she said.

And in order for the state to hit 10% EV ownership by 2030, one scenario outlined by Arizona PIRG, the number of charging stations would need to grow significantly.

"According to the Arizona PIRG Education Fund, to support a future in which 10% of Arizona's vehicles are EVs – a conservative target for 2030 – Arizona will need more than 1,098 fast-charging plugs and 14,888 Level 2 plugs," Brown said.

This will require local, state and federal policies, as EVs challenge state power grids, to make "EV charging accessible, affordable, and easy," she said.

But advocates said there are several things working in their favor, even as an EV boom tests charging capacity across the country today. Jim Stack, president of the Phoenix Electric Auto Association, said many of the current plug-ins charging stations are at stores and libraries, places "where you would stop anyway."

"We have a good charging infrastructure and it keeps getting better," Stack said.

One way Asher said Arizona could be more EV-friendly would be to add charging stations at hotels, RV parks and shopping centers. In Tucson, he said, the Culinary Dropout and Jersey Mike's restaurants have already begun offering free electric vehicle charging to customers, Asher said.

While they push for more charging infrastructure, advocates said improving technology and lower vehicle expenses are on their side, as post-2021 electricity trends reshape costs, helping to sway more Arizonans to purchase an electric vehicle in recent years.

"The batteries are getting better and lower in cost as well as longer-lasting," Stack said. He said an EV uses about 50 cents of electricity to cover the same number of miles a gas-burning car gets from a gallon of gas – currently selling for $3.12 a gallon in Arizona, according to AAA.

In addition, the state is offering incentives to electric vehicle buyers.

"In AZ we get reduced registration on electric vehicles," Stack said. "It's about $15 a year compared to $300-700 a year for gas and diesel cars."

Electric vehicle owners also "get 24/7 access to HOV lanes, even with one person," he said. And utilities like Tucson Electric Power offer rebates and incentives for home charging stations, according to a report by the National Conference of State Legislatures, and neighboring New Mexico's EV benefits underscore potential economic gains for the region.

Stack also noted that Arizona is now home to three eclectic vehicle manufacturers: Lucid, which makes cars in Casa Grande, Nikola, which makes trucks in Phoenix and Coolidge, and Electra Meccanica, which plans to build the three-wheeled SOLO commuter in Mesa.

"We get clear skies. No oil changes, no muffler work, no transmission, faster acceleration. No smog or smog tests," Stack said. "It's priceless."

 

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Climate change, not renewables, threaten grid

New Mexico Energy Transition Act advances renewable energy, battery storage, energy efficiency, and demand response to boost grid reliability during climate change-fueled heatwaves, reducing emissions while supporting solar and wind deployment.

 

Key Points

A state policy phasing out power emissions, scaling renewables and storage, bolstering grid reliability in extreme heat.

✅ Replaces coal generation with solar plus battery storage

✅ Enhances grid reliability during climate-driven heatwaves

✅ Promotes energy efficiency and demand response programs

 

While temperatures hit record highs across much of the West in recent weeks and California was forced to curb electricity service amid heat-driven grid strain that week, the power stayed on in New Mexico thanks to proactive energy efficiency and conservation measures.

Public Service Company of New Mexico on Aug. 19 did ask customers to cut back on power use during the peak demand time until 9 p.m., to offset energy supply issues due to the record-breaking heatwave that was one of the most severe to hit the West since 2006. But the Albuquerque Journal's Aug. 28 editorial, "PRC should see the light with record heat and blackouts," confuses the problem with the solution. Record temperatures fueled by climate change – not renewable energy – were to blame for the power challenges last month. And thanks to the Energy Transition Act, New Mexico is reducing climate change-causing pollution and better positioned to prevent the worst impacts of global warming.

During those August days, more than 80 million U.S. residents were under excessive heat warnings. As the Journal's editorial pointed out, California experienced blackouts on Aug. 14 and 15 as wildfires swept across the state and temperatures rose. In fact, a recent report by the University of Chicago's Climate Impact Lab found the world has experienced record heat this summer due to climate change, and heat-related deaths will continue to rise in the future.

As the recent California energy incidents show, climate change is a threat to a reliable electricity system and our health as soaring temperatures and heatwaves strain our grid, as seen in Texas grid challenges this year as well. Demand for electricity rises as people depend more on energy-intensive air conditioning. High temperatures also can decrease transmission line efficiency and cause power plant operators to scale back or even temporarily stop electricity generation.

Lobbyists for the fossil fuel industry may claim that the service interruptions and the conservation requests in New Mexico demonstrate the need for keeping fossil-fueled power generation for electricity reliability, echoing policy blame narratives in California that fault climate policies. But fossil fuel combustion still is subject to the factors that cause blackouts – while also driving climate change and making resulting heatwaves more common. After an investigation, California's own energy agencies found no substance to the claim that renewable energy use was a factor in the situation there, and it's not to blame in New Mexico, either.

New Mexico's Energy Transition Act is a bold, necessary step to limit the damage caused by climate change in the future. It creates a reasonable, cost-saving path to eliminating greenhouse gas emissions associated with generating electricity.

The New Mexico Public Regulation Commission properly applied this law when it recently voted unanimously to replace PNM's coal-fired generation at San Juan Generating Station with carbon-free solar energy and battery storage located in the Four Corners communities, a prudent step given California's looming electricity shortage warnings across the West. The development will create jobs and provide resources for the local school district and help ensure a stronger economy and a healthier future for the region.

As we expand solar and wind energy here in New Mexico, we can help ensure reliable electricity service by building out greater battery storage for renewable energy resources. Expanding regional energy markets that can dispatch the lowest-cost energy from across the region to places where it is needed most would make renewable energy more available and reduce costs, despite concerns over policy exports raised by some observers.

Energy efficiency and demand response are important when we are facing extraordinary conditions, and proven strategies to improve electricity reliability show how demand-side tools complement the grid, so it is unfortunate that the Albuquerque Journal made the unsubstantiated claim that a stray cloud will put out the lights. It was hot, supplies were tight on the electric grid, and in those moments, we should conserve. We should not use those moments to turn our back on progress.

 

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How to retrofit a condo with chargers for a world of electric cars

Condo EV charging retrofits face strata approval thresholds, installation costs, and limited electrical capacity, but government rebates, subsidies, and smart billing systems can improve ROI, property value, and feasibility amid electrician shortages and infrastructure constraints.

 

Key Points

Condo EV charging retrofits equip multiunit parking with EV chargers, balancing costs, bylaws, capacity, and rebates.

✅ Requires owner approval (e.g., 75% in B.C.) and clear bylaws

✅ Leverage rebates, subsidies, and load management to cut costs

✅ Plan billing, capacity, and phased installation to increase ROI

 

Retrofitting an existing multiunit residential building with electric vehicle charging stations is a complex and costly exercise, as high-rise EV charging challenges in MURBs demonstrate, even after subsidies, but the biggest hurdle to adoption may be getting enough condo owners on board.

British Columbia, for example, offers a range of provincial government subsidies to help condo corporations (referred to in B.C. as stratas) with everything from the initial research to installing the chargers. But according to provincial strata law, three-quarters of owners must support the plan before it is implemented, though new strata EV legislation could make approvals easier in some jurisdictions.

“The largest challenge is getting that 75-per-cent majority approval to go ahead,” says EV charging specialist Patrick Breuer with ChargeFwd Ltd., a Vancouver-based sustainable transport consultancy.

Chris Brunner, a strata president in Vancouver, recently upgraded all the building’s parking stalls for EV charging. His biggest challenge was getting the strata’s investment owners, who don’t live in the building and were not interested in spending money, to support the project.

“We had to sell it in two ways,” Mr. Brunner says. “First, that there’s going to be a return on investment, including vehicle-to-building benefits that support savings and grid stability, and second, that there will come a time when this will be required. And if we do it now, taking advantage of the generous rebates and avoiding price increases for expertise and materials, we’ll be ahead of the curve.”

Once the owners have voted in favour, the condo board can begin the planning process and start looking for rebates. The B.C. government will provide a rebate of up to 75 per cent for the consulting phase, with additional provincial rebates available through current programs. It’s referred to as an “EV Ready” plan, which is a professionally prepared document that describes how to implement EV charging fairly, and estimates its cost.

Once a condo has completed the EV Ready plan, it becomes eligible for other rebates, such as the EV Ready Infrastructure subsidy, which will bring power to each individual parking stall through an energized outlet. This is rebated at 50 per cent of expenses, up to $600 a stall.

There are further rebates of up to 75 per cent for installing the charging stations themselves, and B.C. charging rebates extend to home and workplace programs, too. The program is administered by BC Hydro, a Crown corporation that receives funding in annual increments. “Right now, it’s funded until March 31, 2023,” Mr. Breuer says.

“Realtors are valuing [individual charging stations] from $2,000 to $10,000,” he said. The demand for installing EV chargers in buildings has grown to such an extent that it’s hard to find qualified electricians, Mr. Breuer says.

However, even with subsidies, there are some buildings where it doesn’t make financial sense to retrofit them. “If you have to core through thin floors or there’s a big parkade with a large voltage drop, it isn’t financially viable,” Mr. Breuer says. “We do a lot of EV Ready plans, but not all the projects can go ahead.”

For many people, it’s resistance to the unknown that is preventing them from voting for the retrofit, according to Carter Li of Toronto-based Swtch Energy Inc., which provides charging in high-density urban settings. It has done retrofits on 200 multiunit residential buildings in the Toronto area, and Calgary condo charging efforts show similar momentum in other cities, too. “They’re worried about paying for someone else’s electricity,” he says. Selling owners on the idea requires educating them about how the billing will work, maximizing electrical capacity to keep costs down, using government subsidies and the anticipated boost in property value.

Ontario currently does not provide any subsidies for retrofitting condos for EV charging. However, there is a stipulation under the Condominium Act that if owners request EV charging be installed and provide a condo board with sufficient documentation, an assessment will be conducted.

When Jeremy Benning was on the board of his Toronto condo in 2018, a few residents inquired about installing EV charging. A committee of owners did the legwork, and found a company that could do the infrastructure installation as well as set up accounts for individual billing purposes. Residents were surveyed a number of times before going ahead with the installation.

Mr. Benning estimates it cost about $40,000 to install two electrical subpanels to accommodate EV chargers in 20 parking spaces. Although the condo corporation paid the money up front out of its operating budget, everyone who ordered a charger will pay back their share over time. Many who do not even own an EV have opted to add a valuable frill to their unit.

The board considered applying for a subsidy from Natural Resources Canada, but it would require a public charger in the visitor parking lot. “The rebate wasn’t enough to pay for the cost of putting in that charging station,” Mr. Benning says. “Also, you have to maintain it, and what if it gets vandalized? It wasn’t worth it.”

Quebec’s Roulez Vert (Ride Green) program offers extensive provincial rebates and incentives for retrofitting condo buildings. If a single condo owner wants to install an EV charger, the government will refund up to 50 per cent of the installation cost or up to $5,000, whichever is less.

Otherwise, a property manager can qualify for a maximum of $25,000 a year to retrofit a building and can sometimes complete the work in stages. “They may do the first installation in one year, and then continue the next year,” says Léo Viger-Bernard of Recharge Véhicule Électrique (RVE). Recently, the Quebec government confirmed this program will run until 2027.

RVE consults with condo corporations, operates an online platform (murby.com) with resources for building owners, and sells a demand charge controller (DCC), which is an electric vehicle energy management system. The DCC allows an electrician to plug the EV charger directly into the electrical infrastructure of a single condo or apartment unit. Not only does this reduce extra wiring, but it also monitors the electrical consumption in each unit, only powering the charging station when there’s available electricity. Billing is assigned to the actual unit’s electricity bill.

Currently there are about 12,000 DCC units installed in retrofitted buildings across Canada, some that are 40 or 50 years old. “It’s not a question of age; it’s more the location of the electric meters,” Mr. Viger-Bernard says. The DCC can be installed either on the roof or on different floors.

According to Michael Wilk, president of Montreal-based Wilkar Property Management Inc., the biggest barrier is getting condo owners to understand the necessity of doing a retrofit now, as opposed to waiting. He uses price increases to try to convince them.

“Right now, the cost of doing a retrofit is 35 per cent more than it was two years ago,” he says. “If you wait another two years, we can only anticipate it’s going to be 35 per cent higher because of the rising cost of labour, parts and equipment.”

In Nova Scotia, Marc MacDonald of Spark Power Corp. installed an EV charger with a DCC unit at a condo near Halifax about a year ago. “They only had space in their electrical room to add a device for up to 10 EV chargers,” he says. The condo board was hesitant, demanding a great deal of information. “They were concerned about everyone wanting an EV charger.”

Now that Nova Scotia has introduced a program for rebates and incentives to install EV chargers in condos, on-street sites and more, Mr. MacDonald anticipates demand will increase, though Atlantic EV adoption still lags the national average. “But they’ll have to settle with reality. Not everyone can have an EV charger if the building can’t accommodate it.”

 

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