We need more EV chargers. We keep saying it, and everyone knows it, fstate officials rom and corporate executives all the way to the White House. They are being built, albeit slowly, But It’s happening (a little bit). Where is the charger? the most neccesary, However, located in the city center city center, especially for people living in apartments. Road & Track reports a startup looking to give apartment dwellers access to charging and incentivize property owners to build them by helping them make money in the process.
In case you lost it:
New York State, like many other states and countries around the world, is planning a ban on internal combustion engines by 2035. So things need to change quickly. To speed up charging rollout for all EVs expected to hit the streets, Brooklyn-based startup its electricity cooperated with Hyundai Cradle — the mobility solutions arm of Hyundai — and the New York City Economic Development Corporation. Itselectric wants to build its own designed curbside chargers in apartment buildings and is currently planning to test the chargers later this year.
When everything is finally in place for the company, the startup says it makes things simple. First, itselectirc will partner with property owners interested in installing chargers. The company will then analyze the property’s electrical panels and curbs for possible charger installations. If everything checks out, itselectirc will ensure the proper license to install. Itselectirc will then install a free charger for property owners with a charger that draws power from the backup energy generated by the property. The electric vehicle owners who become part of the charging network can then use the chargers, and more interestingly, the property owners can earn an income from the chargers, up to $1,000 per year per charger which itselectirc says.
“Our technology is built specifically for cities to ensure that every community — regardless of median income or popularity of driveways and garages — have access to clean transportation,” speak its founder and chief executive officer King Nathan.
However, the reality is that it may take more than a few chargers to generate enough income to make something like this attractive to property owners. If $1,000 a year per charger doesn’t sound like much, that’s because it isn’t. And clearly the EV charging business is not yet a dairy cow. EV charging companies have lost or lost money in their business ventures; BP admits it is losing money on its electric vehicle charging network; toll points New post a loss after losing income despite increased sales.
But if it is electricity can prove it can bring charging to the masses living in New York City apartments and condominiums, and beyond, access to fair pricing pays off in the long run.
