EV charger installations can increase your home’s resale value
Keeping the national EV goals in mind, homes that have or are prepped for EV chargers will be worth more and appeal to a broader group of buyers. Some sources suggest the charger could add $10,000 to $15,000 value to your home.
Installing an EV charger in an already-built home starts at around $700 (not including the unit) but can increase depending on the specifics of the job. The process requires electricians to drill into walls, run wiring to the panel, and mount the outlet and charger. You can imagine it’s quicker and more affordable to install the wiring and outlet during construction when there are no walls.
The cost of the charger can be more than just the unit. People with older homes and aspirations for driving an EV face a problem. Their home electrical system isn’t strong enough to power the charger.
They may have to upgrade their electrical service and system to install the charger. The worst-case scenario includes a house rewiring, a new electrical panel, and an updated service (which connects your home to the power grid).