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Can you use your electric car charger to make money?

Is there actually a way for you to generate income with your car charger or is it a fantasy?
Updated on
April 8, 2024
Is your Car Charger simply a device or can it be an income generating tool?

That is something that we, at VoltShare, have put a lot of thought in. We believe there is great potential in the sharing economy which not only has financial but also sustainability benefits. That is why we are the front runners of community sharing of EV chargers. Not to mention, there is a relatively new concept of selling electricity back to the grid. We will cover both topics in this article.

Sharing your electric car charger

One way of generating income with your car charger is through community sharing. This means renting out your car charger to your neighbours or drivers in need of emergency charging, when it is idle for any period of time e.g., when you go on holiday or even when you go to the office. We have developed an innovative solution that takes care of payment, reservation, and security so you have nothing to worry about.

VoltShare Mobile App Make Money

Is it secure?

With our innovative hardware and software integration, your VShare mobile app communicates directly with the VoltShare charger. Users of your chargepoint can only access it via the mobile app and they must have a valid payment card registered before using it. Our charger knows exactly how much electricity has been used and how long each session lasted giving you and the driver accurate and fair payment.

Don't feel like sharing it out? Set exactly when your VoltShare chargepoint is available and accessible to others.

You will always be in full control of your VoltShare chargepoint and you can rest assured knowing you will be paid.

Who is it for?

Basically everyone. From homeowners to parking operators, you can easily monetise your car charger(s). Our hardware and software solution is the first of its kind to be made available to both domestic and commercial owners at a fraction of normal costs. Having EV Chargers at your business, large or small, can be a great step towards being a more sustainable business.

How much can you earn?

It depends on a range of factors but on the lower end, you can expect to earn at least £800 a year and significantly more if you charge for parking.

Selling to the grid: Vehicle-to-Grid (V2G)

Vehicle-to-grid (V2G) is a system in which the battery of an electric car returns electricity back to the electricity grid. This opens a world of possibilities. V2G could unlock an extra source of income for the car owner. This is especially relevant if there are fleets of electric cars that remain unused for long periods of time.

Basically, your electric car battery would act as electricity storage for the grid.

Why is this useful?

Electricity demand is highest in mornings and lowest at night. Accordingly, electricity is more expensive in mornings and is cheaper at night. So, if you could draw electricity from the grid at night, store it, and use it in the morning, you could potentially save money. This is exactly where electric car batteries enter the picture. Your chargepoint can act as the V2G unit, communicating with the grid.

The typical car today is parked 95% of the time. If your electric car remains plugged-in during this time, it could act as an extension of the electricity grid. This can cut costs and energy wastage. In a 2015 study, electric car owners could expect to earn up to $454 per year using V2G technology. In addition, peak load on utilities are reduced – leading to much lower energy wastage.

Is anyone doing this already?

Although V2G hasn’t reached mainstream yet, several major car manufacturers have been dabbling in it for quite a while now. In 2018, Nissan launched the Nissan Energy Share initiative by using V2G to partially power its North American headquarters in the United States. Results have generally been positive so far.

The future of V2G

The OCPP (Open Charge Point Protocol) is a protocol for communication between charge points and a central management system. In the UK, OCPP certification is required for the EVHS and WCS government grants. V2G isn’t supported by OCPP yet, but we expect compatibility soon.

V2G, at least in its present form, may not ever be in the mainstream. However, it definitely is a futuristic technology to look out for.

Get in touch today to join our growing VoltShare community!

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VoltShare are an EV charging technology provider for the hospitality industry that simplifies management, payments collection, and technology integration. We empower small to large-sized venues to futureproof themselves, while ensuring they remain resource-efficient and profitable.

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