How the Acme Lofts Condo Complex Solved its EV Charging Challenge—And How Your Property Can Too
At the end of 2024, electric vehicles (EVs) represented nearly a third of vehicles sold in Colorado—the highest rate in the country. But while home charging is preferred by EV drivers, many apartment and condo residents lack access due to perceived installation costs.
The reality, though, is this: With intelligent charging solutions, costs for installing chargers are dramatically reduced, putting chargers within reach for every kind of property.
The Acme Lofts condo complex in Denver offers a perfect example. By adopting EV chargers with advanced energy management, the property is ensuring that every resident has access to a charging station—without costly electrical upgrades and likely at zero cost to residents.
What was once an impossible challenge is now a game-changing amenity. Here’s how Acme Lofts made it happen—and how your property can do the same.
From years of challenges to an immediate solution
Acme Lofts has had a single EV charging station installed for a number of years, but with parking spaces reserved for individual units, the growing number of EV drivers at the property were unable to make use of it.
Years of effort to just move the existing charging station went nowhere, and questions about installing more charging stations were a non-starter. The condo board said it was too expensive to contemplate.
When HOA VP Scott Meyer contacted Xcel Energy and SWTCH, he received a different answer. Costs could be kept low if the right solution were installed.
“Xcel said, ‘Hey, sounds like you need a system that can balance however many chargers you need across how many spots you need. SWTCH can get you an electric charger in every single spot without an expensive electrical upgrade.’ And SWTCH confirmed it could do that for us,” Meyer said.
Just like that, planning was underway to install charging stations at Acme Lofts.
Slashing costs with energy management and generous funding
The key to the cost reductions for Acme Lofts’ EV chargers is SWTCH’s advanced energy management technology. Where the default installation for EV charging is one charger per circuit, SWTCH’s advanced energy management allows many chargers to be installed on each circuit or panel.
The system intelligently distributes available power among connected vehicles, ensuring all of them can charge up without overloading the electrical infrastructure. This allows chargers to be installed with minimal electrical upgrades—often none at all. Electrical upgrades typically represent one of the largest costs in charging installation projects.
This was paired with a generous funding program from Xcel Energy, which offers thousands of dollars in funding per charger to apartment and condo buildings seeking to install charging stations.
Combined, this technology and funding are enabling Acme Lofts to install 30 stations—one per parking space—at minimal cost to the unit owners. The same approach can be used by any building, for any number of charging stations, no matter how much electrical capacity it has. It puts EV charging in reach for everyone.
The immediate impact: More residents are purchasing EVs, and more tenants want to move in
Even before chargers were installed, residents began to get excited, with some running out and purchasing EVs of their own—evidence that the main thing holding people back from driving electric is access to charging.
“Two of my neighbors have already bought electric cars,” said Meyer. “I’ve been telling them about the project, and they’ve been wanting to make the switch. Now they have. They’re very excited to be able to charge in their parking space.”
Once drivers do own an EV, access to home charging becomes a non-negotiable. According to Meyer, some of the condo owners most excited about the incoming charging stations are those who rent out their properties.
“A very common reason that potential tenants fall through is they have an EV and they say, ‘Oh, I saw your space online, looks really good. What’s the charging like?’ And when they’re told there is no charging, they say, ‘Okay, I’m going to go look somewhere else.’”
As EV ownership continues to grow, these trends will increase. More EV drivers will need spaces to plug in, and the properties that meet this need will have a distinct advantage in attracting tenants.
The EV tipping point: Why now is the moment for properties to invest
Colorado’s position as the leading state for EV adoption demands a swift response from property owners, and the example of Acme Lofts demonstrates that intelligent charging solutions can enable any property to install as many chargers as are needed at little cost.
But the funding opportunities available today will not last forever. For properties keen to install chargers—and become top destinations for EV drivers in the process—it’s important to act now. As Acme Lofts shows, EV charging is already a make-or-break amenity for many tenants. Delay too long, and the moment to secure this advantage at a discount will be gone.
Looking to install EV charging for your own property?
Contact us today! We’ll help you build the best custom solution for your needs.
Written by
Sofia Berrada
Head of Strategy
