It’s a familiar dilemma in green tech: the long-term benefits are substantial, but high upfront costs keep buyers from taking the plunge. This spells opportunity for companies that can find ways to remove this objection. Tesla’s cousin SolarCity is one example – it has achieved huge success by offering leases that let property owners enjoy savings from solar panels without having to pony up the high installation costs.
This week, ChargePoint founder and Chief Technology Officer Richard Lowenthal implied that his company has plans to do something similar in the EV charging field.
“The solar industry really got going when they could put solar panels on your roof and pay for it with the savings,” said Lowenthal. “We’re doing the same thing now for charging.”
The Silicon Valley company is offering no details at the moment. “We do have some exciting news regarding financing programs that will help drive infrastructure and EV adoption,” VP of Marketing Dimitrios Papadogonas told Charged. “We are not making any further comment at this time.”
Chargers ain’t cheap – many residential Level 2 units cost around $2,000 with installation, and commercial or public Level 2 units can cost a lot more – but less expensive options are steadily becoming available. For example, ClipperCreek has a new Level 2 charger that requires no professional installation, and costs $549. Furthermore, it’s the price of the EV itself, not the charger, that’s the stumbling block for most buyers.
However, ChargePoint’s new program could be just the ticket for some buyers, and every extra bit of savings and convenience brings the day of “an EV in every garage” a little closer.
Source: San Francisco Chronicle