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Renewable Energy Stocks to Watch Out For

Ecotality

Related Article: The Renewable Energy Illusion

Ecotality installs electric charging stations around the US in a network they call Blink. The chargers are manufactured by ABB – the Swiss multinational. In 2009, ecotality partnered with the US Department of Energy (DOE) in a venture called the EV Project. The government grants the funds and ecotality deploys and manages the electric vehicle chargers. ecotality collects data on the charging habits of electric vehicle owners and will share this information with the government as part of the EV Project.

The DOE has allotted $100 million to the EV project, funds that can be deployed to the end of 2013. Blink chargers have been deployed in 21 metropolitan areas in 9 states. Some of the chargers are installed in private homes and owned by the user, and others are installed as public charging stations.

Blink Fast Charger
Blink Fast Charger

Thus far, ecotality has set up 8800 Blink chargers – 2600 of which are public charging stations. Ecotality has made deals with big retailers like Walmart and Kohl’s and shopping center owners with lots of public parking to install Blink chargers in select locations. The chargers are owned by host.

Users originally were able to use the Blink charging network for free. Now they pay on a per charge basis, based on the amount of electricity they download – just like pumping gas. Those revenues will be shared by ecotality and the parking lot owners going forward.

Currently the company is bringing in $10,000 a week in revenues from users charging their cars. This isn’t a gigantic revenue, but it’s the growing quickly. Charging events grew 44% in Q3 versus Q2. The number of member using the Blink netowrk stood at 8200 at the end of the last qaurter – a 67% increase over the previous quarter.
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