How Orange Saves Construction Budgets Amidst Interest Rate Hikes

Joseph Nagle
September 5, 2023

In an era marked by growing environmental consciousness and the unstoppable rise of electric vehicles (EVs), properties around the world are facing increasing pressure to accommodate EV charging infrastructure. However, with the recent surge in interest rates and the accompanying impact on construction budgets, property owners and developers find themselves searching for innovative solutions to meet these demands without breaking the bank. Enter the unassuming yet cost-effective hero: the Orange Outlet.

The Landscape: Rising Interest Rates and Budget Constraints

Interest rate hikes can send shockwaves through construction budgets. When money becomes expensive due to higher interest rates, the cost of borrowing increases, casting a shadow over construction projects. These constraints can suspend or even cancel an ongoing project. As a result, property developers and owners are finding it challenging to balance their commitment to sustainability and the environment with the need to keep budgets in check.

The Solution: The Orange Outlet

One promising solution that is gaining traction in this challenging landscape is the implementation of low-powered 20A EV charging outlets, like the Level 1 and Level 2 Orange Outlet. These outlets provide a practical and cost-effective alternative to high-powered charging stations, offering a middle ground that satisfies both the demand for EV charging and the financial constraints of higher interest rates.

Advantages of Orange's Low-Powered EV Charging Outlets

  1. Reduced Infrastructure Costs: One of the most significant advantages of Orange's low-powered EV charging outlets is their reduced infrastructure cost. High-powered charging stations require expensive electrical infrastructure like 6 and 8-gauge wire and take a long time for electricians to run, adding in even more cost. In contrast, low-powered outlets leverage 10 or 12-gauge wiring which take less time to run and can save between 50%-70% on the installation alone.
  2. Minimal Load on Electrical Systems: Orange outlets draw less electricity, reducing the load on the property's electrical system. This can prevent the need for costly upgrades to accommodate higher power demands, a crucial factor when interest rate-induced budget constraints are a concern.
  3. Flexibility and Scalability: These outlets offer a scalable solution, allowing property owners to start small and expand the charging infrastructure as demand grows. This scalability aligns well with uncertain economic conditions and fluctuating budgets, as it enables gradual investment in EV infrastructure.
  4. Ease of Installation: Orange outlets are relatively simple to install compared to high-powered charging stations. This translates to lower labor costs and shorter installation times, both of which contribute to budget savings. Additonally, if something happens that requires replacement Orange Outlets can be replaced easily without the need of an electrician.
  5. Meeting Regulatory Requirements: Many jurisdictions are implementing regulations that require properties to provide a certain number of EV charging options. Orange Outlets fulfill these requirements without overstretching their budgets and supply the community with needed access to EV charging at scale.
  6. Catering to Overnight Charging: Since low-powered outlets are best suited for slower, overnight charging, Orange Outlets align well with the typical usage patterns of parked vehicles. This ensures that EVs are charged and ready for use during the day, without the need for rapid charging capabilities that can strain both the electrical system and the budget.

In the face of rising interest rates and tightened construction budgets, finding a way to incorporate EV charging infrastructure can be a daunting challenge. However, the solution is closer and more cost-effective than you think. Orange's low-powered 20A EV charging outlets offer a middle ground that satisfies both the need for sustainable transportation and the reality of financial constraints. Their reduced infrastructure costs, scalability, and ease of installation make them a strategic choice for properties looking to embrace the EV revolution without jeopardizing their financial stability. As interest rates fluctuate and economic conditions evolve, these outlets can pave the way for a greener future while keeping construction budgets firmly under control.

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