Home EV chargers are hot commodities in Chicago
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Homes with electric vehicle chargers could hold greater resale value in Chicago as more car buyers make the switch, Realtor.com chief economist Danielle Hale says.
Why it matters: Access to at-home EV charging is a rare and increasingly desirable amenity nationwide.
Between the lines: Home chargers are often more convenient than public ones, and faster than charging cables that come with most EVs.
Catch up quick: A law that took effect this year requires new or renovated houses, condo and apartment buildings to include the infrastructure needed for EV chargers.
What they're saying: "I don't want to worry about getting to a charging station and waiting," says Oak Park homeowner Jeanne Gallo, who received a nearly $450 federal tax credit to install a charger in her garage.
- The average installation costs over $1,700 in Chicago, per HomeAdvisor.
Yes, but: Charging at home can hike the electric bill by 20% or more, says Dave Mausner, who charges "his and hers" Chevy Bolts in his Oak Park garage overnight.
- It's one reason some EV owners add solar panels atop their garage.
Reality check: You've got time to install that charger. EV adoption hasn't been swift, Axios' Joann Muller reports.
The big picture: A small but growing share (0.9%) of U.S. homes listed on Realtor.com in 2023 were described as EV-friendly, up from 0.1% five years earlier, according to the company's and Cox Automotive's report.
- Areas with higher EV ownership rates saw higher shares.
Some Chicagoans say they're eager to charge at home, but their HOA rules prevent them from installing a charger, or their building doesn't offer one.
- Near West Side condo owner Aksh Gupta plugs into his garage's regular outlet, which he says provides enough juice for his daily commute.
Note: Cox Automotive's parent company, Cox Enterprises, also owns Axios.