ChargePoint, which operates one of the world’s largest public charging networks, plans to extend its empire into the home, in conjunction with solar installer Sun Edison.
In an interview with the Wall Street Journal’s Venture Capital Dispatch, CEO Pasquale Romano explained the synergies between EV charging and solar energy. “The reason we partnered with Sun Edison is that they have a vision beyond solar – they look at the whole energy-efficiency genre as a holistic problem-set for consumers. Together we can bring our drivers a pretty compelling offer – a ChargePoint home charger in connection with a solar installation on the roof.”
According to Romano, the package deal will be a strong incentive for EV buyers to go solar, and vice versa. “An electric car makes so much sense if you are making a lot of your own power, because if you are making electricity at a favorable rate, you might as well move your fuel costs into that category. Combining solar and an EV can give you some pretty dramatic economic benefits. Right now the economics on solar are so great for residential that if you have the ability to do it, it is a pretty easy decision.”
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Sun Edison already has a well-established commercial solar business, and ChargePoint has a good beachhead in public charging, which should give the partners a head start on competitors. “Drivers know ChargePoint – they get introduced to it when they buy a car. We have auto partnerships with just about every major car manufacturer, and in many cases we are integrated right into the in-dash navigation system. They know about us the minute they buy the car, and they see us everywhere they drive around.”
Source: Wall Street Journal