Future EV chargers could help property owners make money

Property owners who host the EV chargers can earn more than $1000 per charger per year.

Brooklyn-based startup itselectric, in partnership with Hyundai CRADLE & the New York Economic Development Corporation, will soon install curbside chargers, which offer a revenue-sharing model to residential property owners.

According to reports, the curbside EV chargers will be designed by itselectric and installed in partnership with individual property owners after determining the suitability at the particular location. The startup will install and maintain a Level 2 EV charger at no cost to the property owner, but it will be powered by the spare energy from a building's electrical supply. EV owners who become part of the network can then locate the charger and use it, with the revenue generated shared between the startup and the property owner.

The company went on to claim that property owners who host the EV chargers can earn more than $1000 per charger per year.

The startup will begin a pilot program soon, installing six charging points at two locations: Steiner Studios & Brooklyn Army Terminal. The pilot program will be conducted for two months, while the chargers will continue to remain operational for an additional four months after the pilot period.

Source: Car&Driver