Vancouver-based Electric Asset Inc. is paving a way for buildings in British Columbia to adopt electric vehicle (EV) chargers, manage their energy needs, access incentives and follow regulations with its array of services.

Founded in 2020 to help the B.C. and Canadian governments achieve their goals for zero-emission vehicle sales by 2035, the company aims to smooth the transition to adding EV chargers in condos, townhomes and mixed-use buildings.

Using an intelligent charging system from Calgary-based Unico Power, Electric Asset manages a building’s energy by throttling EV charging at peak demand hours. To support a building adding EV chargers and heat pumps, Electric Asset will analyze its electrical capacity and generate a cost plan that taps into government funding programs.

Having serviced over 200 buildings in B.C. and helping deploy thousands of EV charging systems, its latest partnership with fellow Vancouver firm Tribe Property Technologies Inc. will open Electric Asset's services to the buildings under Tribe Management, its property management brand.

The aim of the partnership with Tribe is to inform its clients "as to what’s available out there, what’s out there, how we can help, mitigate and minimize and help them in their energy management down the road,” Sanjay Maharaj, founder and CEO of Electric Asset, said in an interview with Sustainable Biz Canada.

Electric Asset’s EV energy management service

As adding EV chargers to a building, particularly multifamily, involves navigating a tangle of technical, financial and legal matters, Electric Asset aims to address the complications across the proposal, design, engineering and installation stages.

Using Unico Power’s system, Electric Asset checks to ensure a building’s electricity capacity can manage the addition of EV chargers so residents are “not driving the peak demand costs through the roof,” Maharaj explained.

If the building can handle the addition, which he said is often the case in B.C, the management system will regulate EV charging to ensure electricity costs are kept low and the building does not overload electricity demand.

By being resourceful with a building’s existing energy, expensive infrastructure upgrades can be avoided, Maharaj said.

To further enhance sustainability, the company covers integration of solar power systems and energy storage into a building’s EV charging infrastructure.

Electric Asset has serviced multiresidential buildings from as little as 18 units and up to 800 units for clients such as Associa and AWM Alliance, the CEO said. Examples of buildings include the 93-unit Carina condo, the Maplewood Townhomes complex that has 50 units, and the 200-unit high-rise Horizon Tower.

Electric Asset’s Tribe partnership

Describing Tribe as one of the management companies “at the forefront of innovation and technology”, Maharaj said the partnership will start in B.C. and potentially roll out across Tribe’s Canada-wide portfolio.

Electric Asset is expanding its offering to cover more of the management needs of the EV transition, which extends to the Tribe partnership. The services are new to Tribe, but Electric Asset has supported the company before with EV management systems, Maharaj said.

One of those services is providing electrical planning reports — a breakdown of a building’s electrical capacity and how it would be affected by additions like EV chargers and heat pumps. Such reports are needed in certain cases for strata companies interested in adding EV chargers.

Its EV-ready plan outlines the expected costs and requirements to add EV chargers to a building. It will also identify rebates offered by BC Hydro to offset costs for building owners. Electric Asset will point out opportunities to improve energy efficiency, cut carbon emissions and tap into retrofit funding through the provincial utility’s programs.

“We want to take all that and make property management companies aware of these great incentive programs that do not cost them any money,” Maharaj said.

Electric Asset will also produce reports on a building’s energy performance and greenhouse gas emissions, which are now mandatory in B.C. for buildings over 100,000 square feet.

Expansion to Ontario

Maharaj’s long-term vision is for Electric Asset to generate recurring revenue from energy management. By the end of 2025, he aims to have an energy management program for multifamily buildings.

A second ambition is to expand the company’s service to Ontario, which Maharaj admits has been impacted by uncertainties such as U.S. tariffs on Canadian goods.

“We’re taking a calculated approach to make sure that we have our own backyard in B.C. covered,” he said. “We have so much work around here that we don’t want to venture out into other areas where we are not able to provide the level of service and support that we are expected to do.”