Today: Apr 17, 2024

Startup aims to declutter city streets from EV charging chaos.

4 months ago

New York Startup itselectric aims to solve the problem of EV charging in busy urban centers by implementing a novel plan involving curbside EV chargers.

  • The startup’s solution uses sleek, discreet chargers that draw electricity from extra capacity in residential and commercial buildings, preventing cluttered charging wires on city streets.
  • The chargers will be deployed near curbs and will provide energy to EVs via detachable cables drivers carry with them, thus eliminating the need for bulky frames commonly seen in other curbside chargers.
  • Property owners offering their excess energy capacity for EV charging could earn extra income, estimated to start at $1,000 per year, without witnessing an increase in their utility bills as itselectric will separately sub-meter the used energy.
  • In 2023, the startup received funding of $2.2 million from a pre-seed round and launched six pilot chargers in Brooklyn and lined up 25 more chargers for Detroit properties. Plans for expansion in eight other cities are in the pipeline for 2024.

itselectric also offers EV owners an app that they can use to pay for charging. The amount charged is set for each city based on the utility base rate. Tesla owners will be provided with a NACS cable, while owners of other EVs will receive a CCS cable. However, the company plans to transition to NACS cables for everyone, as it foresees this plug becoming the US standard for charging.

Level 2 charging was chosen as itselectric’s strategy because it allows drivers to charge their EVs overnight or during short-to-medium length parking stops. Co-founder Gordon views Level 2 charging as crucial for a city like New York, where most residents lack access to home charging options. She points out the need for increasing the Level 2 charging infrastructure as a “necessary but underserved” market to meet the Biden Administration’s goal of having 1 million public Level 2 chargers by 2030.

Despite the startup’s marked success so far, the challenges include convincing more investors to lean towards Level 2 instead of DC fast charging. However, itselectric views its niche product as an opportunity to capitalize on a market that no one else is currently addressing in the same way.