Saturday, July 13, 2024
InsightsSmart Charging

Monetising Your Driveway

In a world increasingly focused on sustainability and innovation, the concept of monetising your driveway has evolved beyond traditional parking spaces.

So, whether you are an EV owner looking for a convenient charging solution or an EV owner with a charger going spare when you’re out and about, the new way to monetise driveways could be right up your street.

With their latest venture, Just Charge, companies like Just Park are revolutionising how homeowners can generate income while contributing to the electric vehicle (EV) revolution. In the past, you might have used a pay-to-park service such as Your Parking Space, where you can park on someone else’s driveway or property while they’re not using the space, but with the rise of EVs, this has taken an extra step, with personal charging points now presenting a lucrative money making opportunity.

Transforming Driveways into Charging Stations

By installing an EV charger, you can tap into the growing demand for electric vehicle infrastructure while generating additional income. With more individuals slowly switching to electric vehicles, offering charging services such as these can attract long-term renters to your charger, which in turn, could make you a pretty-penny. Owning a charger and embracing this trend could not only benefit your bank balance but will also contribute to reducing carbon emissions and promoting a greener future for transportation. EV charger sharing is a mutually beneficial arrangement as can provide a passive income for homeowners, and a convenient and affordable way of charging for EV drivers.

At evec, the prospect that by owning a home charger, you can help to unlock the ability for many more drivers to switch to an EV is really exciting. The process of using these platforms to share your charger is also straightforward: homeowners list their chargers, set pricing, and then get loaded onto the platform’s database of available chargers.  This means that when a passing or local EV driver requires a charge, they can easily browse available chargers in their vicinity through the platforms and, upon finding a suitable option, book a charger for a certain date and time.

With minimal effort, homeowners can generate revenue while contributing to the EV infrastructure. The revenue you can make is dependent on your charger, costings location and accessibility (as to whether your area has a high level of EVs and charging points), as highlighted by GoPlugable, but on average, homeowners can make between £200 and £1,000 a year by renting out their home charger.

How can we encourage EV Adoption while empowering homeowners with EVs?

The potential impact of earning cash from driveways extends beyond financial gains, as whichever way more public chargers become available, the growth of accessible charging points is what’s needed in this country. And if homeowners with EV chargers can play a role in improving the infrastructure, then why not?

Of course, the prospect of earning more money by letting out your charger is definitely an incentive and will be sure to encourage more individuals to embrace EV ownership. For prospective EV owners, the availability of convenient charging options alleviates concerns about range limitations, making the transition to electric vehicles more appealing. Knowing that charge points are readily available nearby can provide the reassurance needed to take the plunge into EV ownership. Just think, if you wanted an EV but your only reservation was about charging, then a neighbour up your street had a charger which was readily available and was a good deal compared to a public charger on the other side of town; it’d make owning an EV then much more appealing.

Overall, the emergence of these driveway monetising platforms signifies a transformative shift in how we view and utilise residential spaces and our property. By leveraging existing infrastructure to support EV charging, homeowners have the opportunity to play an active role in shaping the future of transportation while reaping the rewards of their investment.

As the demand for EVs continues to rise, the importance of accessible charging infrastructure cannot be overstated, and monetising driveways not only addresses this need but also empowers homeowners to embrace sustainability and entrepreneurship simultaneously. It’s a tangible contribution to a cleaner, more sustainable future for generations to come.

Photo by Zaptec on Unsplash

Tom Bloor

Tom Bloor is the brains behind evec and conceived the idea for the company in early 2022. Combining his love of cars with his knowledge of the appliances market via his work with OEM, Tom identified a gap in the market for the growth of EVs. Tom is a young, ambitious and determined individual who is committed to making a difference. The values of sustainability and environmental protection are at the core of his green future ambition. He is committed to net zero and has confidence in the switch to electric vehicles. He believes that these measures are essential to ensure a sustainable future for generations to come.