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Electric car charging stations – a new way to pay

Could an idea that helped spark the solar industry’s growth do the same for electric car charging stations?

ChargePoint seems to think so.
Photo: Getty Images

Photo: Getty Images

The Silicon Valley company plans to unveil a new financing option that would let EV drivers get a new charging station without paying the upfront cost of equipment or installation. ChargePoint founder and Chief Technology Officer Richard Lowenthal teased the news Monday at an event in San Francisco.

He offered few details. But Lowenthal compared the new financing system to the solar leases that have revolutionized the solar industry in recent years. Companies such as SolarCity and Sunrun offer leases that let homeowners get solar panels without paying the steep initial cost of buying and installing the gear. That financial innovation has touched off a period of explosive growth.

“The solar industry really got going when they could put solar panels on your roof and pay for it with the savings,” Lowenthal said Monday. “We’re doing the same thing now for charging.”


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