COST COMPARISON
The cost of the IPS meter can be 40-50% less to install per space than multi-space machines.
IPS is the BEST Investment
While companies will claim 10+ spaces, the standard multi space machine in an on-street application can only practically manage 6 to 7 on-street parking spaces before it becomes very inconvenient to use for the motorist. This fact is confirmed by those cities that currently use multi-space machines as well as those that have decided against them after the initial trial period. Below is the analysis with one Multi Space Pay and Display compared to 7 IPS Flexi Pay Single Space Meters.
We Have Done the Math
| Cost of Ownership over 5 Years | Multi Space Meter* | 7 IPS Meters |
|---|---|---|
| Capital cost (7 spaces installed) | $8,630 | $3,710 |
| Operating Cost, Credit Card Gateway Fees, and Paper Costs over 5 years (7 spaces) | $5,472 | $5,145 |
| Total Cost of ownership over 5 years | $14,102 | $8,855 |
* Data based on survey of multi-space customers.
Other vehicle sensor companies are required to install routers and other wireless infrastructure on City street poles, traffic light poles and other utility poles.... what a hassle and expense! With IPS, our sensor system utilizes the IPS meter's wireless connection, saving you significant time and money.
| Sensors - Cost of Ownership | Alternatives | IPS |
|---|---|---|
| Capital Cost per Sensor | $300 | $250 |
| Operating Costs, Wireless Fees, and Data Management System | $10 - $12 per space per month | $3.75-$6.25 per space per month |
| Additional wireless hardware to be installed on City street poles? | YES | NO |