City Parking's selected Charge Enterprises to build electric vehicle charging infrastructure throughout the downtown New York
Charge Enterprises (Charging Enterprises Corporate) ( Nasdaq stock code: CRGE), consisting of a global business portfolio with a vision to connect people around the world with communications and electric vehicle ("EV") charging infrastructure, today announced the signing of a master service agreement for the strategy, planning and implementation of City Parking (City Parking) electric vehicle charging infrastructure, City Parking is New York City's largest private parking management provider with 135 owned and operated locations in the downtown New York.
City Parking is the leading owner and operator of New York parking lots, with a good customer base and working with most of the major New York City owners, residential properties and large organizations including: SL Green, Brookfield Property, Silverstein Property, Yankee Stadium, Ivanhoe Cambridge and TF Cornerstone.
Charge is exclusively selected by City Parking, providing customized EV charging infrastructure solutions for its own locations. Charge's customized turnkey electric vehicle charging services include strategic planning, incentive coordination, electric vehicle service equipment (EVSE) specifications, engineering and design, utility coordination, commissioning and installation. Charge is providing seamless solutions to support the transition to sustainable transportation globally through a equitable, safe, reliable and scalable charging ecosystem.
“We are excited to offer our electric vehicle charging solutions to our customers. EV drivers should share our parking solutions to the convenience of others; as EV utilization increases, City Parking hopes to be a leader in exceeding consumer expectations and enhancing customer experience. We chose Charge as a partner in our program because their knowledge, integrity and custom solutions take into account our enterprise targets and our charging needs. We value the idea of being able to remotely monitor the station so we can ensure the highest performance, the lowest energy costs, and maximize our uptime,” said Rafael Llopiz, Chairman of City Parking.
"City Parking is obviously a forward-thinking company that understands the shift to electric vehicles and the need to address much-needed infrastructure. I think many real estate owners and operators are finding out that they need to develop a strategy and plan to support consumers in this huge shift. We are honored to be selected as their partner in this initiative to embrace the transition to electric vehicles," said Andrew Fox, Founder, Chairman and CEO of Charge Enterprises.
Due to the rapid expansion of the electric vehicle field, the planning of urban electric vehicle charging stations has attracted more and more attention in both academia and industry. The planning of charging facilities will be introduced below, focusing on the two main types of charging infrastructure currently used: slow charging and fast charging.
Even with the rise of electric vehicle research, people have not completely turned to electric vehicles due to the lack of charging infrastructure. The development of power electronics has shortened the charging time of vehicles to less than one hour. But this requires a broad fast charging infrastructure that needs to be effectively planned for large-scale adoption of electric vehicles. Due to the rapid growth of the electric vehicle industry, the planning of urban electric vehicle charging stations has attracted increasing attention in both academia and industry. The two main ways to power electric vehicles are slow charging of charging piles and fast charging of charging stations.
Researchers proposed different mathematical models to determine the optimal model for electric vehicle charging station planning, taking into account various factors such as the distance between continuous charging stations, the number of electric vehicles, road network, traffic information, distribution network structure, capacity limitations in urban areas, and the cost of establishing and operating charging stations to maximize profits. This article will discuss charging facility planning, focusing on the two existing major charging infrastructure types - slow charging and fast charging.
What is the demand for electric car charging?
Several factors need to be considered when planning the charging infrastructure of electric vehicles. The number and usage patterns of electric vehicles in a given area will determine the type of charging people may use. Charging needs are divided into three types: slow charging, regular charging and emergency charging.
Slow charging demand usually comes from residential areas where users use electric vehicles to drive for a short distance. Regular charging needs are met by high-power rated chargers typically located in commercial buildings. These chargers take about five to seven hours to fully charge the car. They are more expensive compared to slow chargers because they involve high power rated infrastructure.
Fast charging stations are usually located on the roadside and on highways to charge vehicles on the go. Recent developments have made fast chargers efficient enough to fully charge the vehicle within one hour. But the technology is relatively expensive, involving high capital and operating costs. The following table summarizes three requirements types.
Figure 1
Figure 1: Table format for charging demand for electric vehicles
Charging piles for slow planning and conventional demand
In order to meet the slow and regular charging needs of electric vehicles, charging piles were set up at the location with the highest expected demand. These include private charging piles in residential areas, office parking lots and public charging piles in commercial areas. The charging needs in a specific region determine the rating of the charging pile and its location planning method.
Calculate the number of charging piles to consider factors such as charging demand, charging power, daily availability time and charging pile vacancy rate.
Planning a fast charging station to meet emergency needs
For emergency charging needs, fast charging located on the roadside can be used in conjunction with the Level 3 charging mode. The planning of these fast chargers depends primarily on the road network and the amount of demand that must be met. The location of these fast charging stations must provide satisfactory charging services to EV owners without adversely affecting the grid due to uncertainty and impulsiveness of charging demand. Research shows that impulsivity due to electric vehicle loads will have a negative impact on the grid, including destructive changes in the voltage distribution along the feeder and depreciation of life of key grid equipment.
Figure 2
Figure 2: Fast Charging Station Example
In the planning process of fast charging stations, both transportation and electrical considerations are considered equally, but these two conditions are usually conflicting in nature. From an electrical perspective, it is desirable to place fast charging stations away from existing loads to minimize losses and maintain voltage curves. The load on other connections is not affected, but that particular location may not be desirable for many users. Therefore, a comprehensive planning model needs to be developed by viewing fast charging stations as impulsive power loads and extensions of human behavior.
Electric vehicle charging stocks are expected to remain volatile
Electric vehicle charging stocks are expected to remain volatile
Investment Bank Bank of America recently weighed the electric vehicle battery charging industry.
The company stressed that the charging valuation indicator of electric vehicles is still at a price of 10 times (two years later) and is expected to face continued relative pressure in the short term. This view believes that rising volatility around headlines and macro developments will continue to cause substantial fluctuations in stock prices.
Bank of US market sentiment: "While the overall industry's excitement for the industry has decreased, retail dynamics make the short squeeze risk even worse when intervening. Another nuance to consider in the upcoming results is the optical factor surrounding the potential volatility of the selected company's profitability, especially around warrants. EVGO's third-quarter adjustment is a factor in GAAP's positive earnings, but we expect it to be a headwind for GAAP when they report full-year results in March based on the quarterly share price action."
The large number of short interest positions in electric vehicle charging stocks remain a factor.Short-term interest on Flash Charging (NASDAQ: BLNK) is 38.6% of total floating deposits, EVgo (NASDAQ: EVGO) is 30.1%, Charging Point Holdings ( NYSE : CHPT) is 13.6%, and Volta Industries (NYSE: VLTA) is 10.0%.
blink charging (BLNK -3.1%), Evgo (EVGO -3.5%), Volta Industries (VLTA -2.0%) and charging point (CHPT -4.7%) all fell Thursday, as sales pressures in the electric vehicle industry were widespread.
The industry's biggest gain this week was Wallbox N.V. (NYSE:WBX), which rose 2.39% on the day and 6.08% this week after working with Uber National.
Conclusion
With the growing demand for sustainable and environmentally friendly modes of transportation, electric vehicles, whether it is cars, buses, scooters or rickshaw is the future. Large-scale adoption of electric vehicles is only possible when necessary charging infrastructure is effectively planned across the country. This article discusses different types of charging requirements and requirements for electric vehicle users. While charging piles located in residential and commercial complexes meet slow and regular charging needs, fast charging needs are met by fast charging stations usually located on the roadside. Various factors to consider when building these infrastructures are also discussed.
