New York City’s Local Law 55 mandates EV chargers in parking garages, requiring 20% of spaces to have Level 2 chargers and 40% to be charger-ready by 2035 for existing lots. Installing chargers often necessitates costly electrical upgrades, with costs per charger exceeding $7,000. Fast chargers can substitute for multiple Level 2 units, providing flexibility. Incentives, such as Con Edison’s PowerReady program, can offset up to 90% of infrastructure costs for public chargers. Developers are exploring economical solutions like slower chargers to balance installation costs with tenant demand as the EV market grows..
55 mandates EV chargers
