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ChargePoint’s New EV Charging Service Borrows From Solar Leasing Models

A solar financing model for EV chargers? Plus, partnership with Schneider revealed.
Jeff St. John: September 23, 2013

ChargePoint, the startup that’s networked about 13,000 electric vehicle charging stations across the United States, plans to start seeding the still-nascent market with its own version of the no-money-down solar lease model, this time for EV charging infrastructure. And, by the way, it also has a previously undisclosed, deep-pocketed corporate partner that might lend a hand.

That’s the news from Monday’s “Charge Across Town” event in San Francisco, where ChargePoint CTO and founder Richard Lowenthal said his company is set to launch a financing option for customers interested in paying off the cost of their charging equipment over time.

“The charging of your car will actually pay for your charging infrastructure,” he told a small crowd of EV enthusiasts at Justin Herman Plaza, where EV makers like Nissan, Ford and GM were showing off plug-in vehicles as part of a nationwide tour to promote electrified transportation.

The idea comes from the solar financing world, he added, where companies like SolarCity, Sunrun, Sungevity and others have built a burgeoning business in leasing or writing contracts that offer owners low- or no-cost solar panels in exchange for long-term payment contracts.
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