8 Great Reasons to Share Your EV Charger
Charger sharing has the potential to accelerate the adoption of electric vehicles (EVs) and address the gap in public charging infrastructure.
This concept is relatively new but is rapidly gaining popularity in the United Kingdom.
Charger sharing offers several advantages, particularly in terms of financial benefits, as it serves as a lucrative source of passive income.
Whether you choose to rent your home EV charger to support others in transitioning to low-emission transportation, earn some extra money, or simply embrace the future of car ownership, its impact is significant.
As an increasing number of residential electric car charging points emerge in various towns and cities up and down the UK, could we be witnessing a revolution in our travel habits?
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What is EV Charger Sharing?
EV charger sharing, also known as community charging or peer-to-peer charging, has been in existence for a few years now.
In essence, owners of residential EV chargers rent out their charge-points to fellow motorists, allowing them to charge their electric vehicles in exchange for a set fee.
Essentially, it revolves around EV owners assisting one another, and there are numerous factors that could contribute to the rapid normalisation of this practice.
How Does EV Charger Sharing Work?
A charger sharing arrangement is made and managed through apps like Joosup, providing a convenient and automated experience.
The app handles various tasks, including locating a nearby host, reserving suitable charging slots, and processing payments.
Both the host and the driver are required to have the app installed.
One of the significant advantages of Joosup is that you can use a single account to be both a host and a driver.
This means you can earn extra income by renting out your charger to other Joosup members while charging your own car at the homes of fellow Joosup users during your travels.
It's a mutually beneficial arrangement in the world of EVs.
Charger sharing apps like Joosup are particularly valuable for individuals who lack a driveway or have limited charging options.
They also prove invaluable for frequent drivers who often travel to locations with inadequate public charging infrastructure.
If the world is to transition to electric vehicles on a larger scale, such charger sharing solutions offer a promising solution to overcome many existing obstacles.
Reasons to Start EV Charger Sharing
There’s numerous compelling reasons to share your charger with others, some of which are straightforward and easy to see the immediate benefits.
However, there are a few additional advantages that many may not have already considered, including:
1. Make an Income
By renting out your EV charger, you have the opportunity to earn an additional passive income.
What’s not to like?
You have full control over determining the hourly rate to cover your energy expenses and generate a profit.
This allows you to maintain complete oversight and ensure that your electricity costs are covered, even during these times when energy bills are escalating.
Moreover, if you’re comfortable with EV drivers parking and recharging their vehicles on your driveway while you're away, renting out your charger requires minimal effort.
You can earn money without having to actively engage in any additional tasks, except for installing and setting up the Joosup app, of course!
2. Increase EV Uptake
The majority of electric vehicle owners have made the transition to reduce emissions and embrace a more environmentally friendly lifestyle.
However, for many individuals, switching to an electric vehicle may not be a straightforward process.
Not every residence has a driveway suitable for installing an EV charger.
This poses a challenge for those who’re eager to make the transition but lack a convenient charging solution at home.
Renting out your charger can play a significant role in assisting local individuals in transitioning to electric vehicles more easily.
By offering access to your charger, you can help facilitate their switch to EVs and contribute to a greener future.
3. Eliminate Range Anxiety
Ah, it’s our old friend “range anxiety” again.
This often crops up when attempting to convince petrol or diesel drivers to transition to electric vehicles.
The fear of experiencing a drained battery and being unable to find a nearby charging station can be daunting.
The availability of charging infrastructure plays a crucial role in encouraging motorists to make the switch to electric.
But, if every resident in the UK were to offer their EV charge-points, the deficiency in public charging infrastructure could be effectively addressed practically overnight.
Imagine the convenience of being able to drive virtually anywhere, easily secure a charging appointment at any destination, and arrive at your destination with a dedicated electrified parking spot ready and waiting for you.
That could be a game changer!
4. Reduce Carbon Footprint
Approximately 27% of the United Kingdom's total emissions can be attributed to private transportation, with the majority originating from privately owned vehicles.
Renting your charger can play a crucial role in accelerating the adoption of electric vehicles (EVs) and subsequently reducing carbon emissions at a faster pace.
By decarbonising domestic transportation, we have the potential to make our cities, towns, and villages significantly cleaner and quickly.
5. Return on Investment
Installing an EV charger can be a costly endeavor, with some models priced at £1000.00 or even higher.
When factoring in installation expenses, you could find yourself spending over £1500.00 before you've even completed your first charging session.
However, by renting out your home EV charger, you can recover the costs of the charger much more quickly.
If you limit the usage to charging only your vehicles once or twice a week, it will take a significantly longer time to regain your initial investment.
6. Keep EV Running Costs Down
The escalating cost of energy in the UK is a concerning issue that seems to be spiraling out of control.
Add inflation into the mix, and we have a massive financial burden on our hands.
This has prompted many prominent public rapid charging companies to raise their fees significantly.
According to the RAC, the cost of public rapid chargers have increased in price by a whopping 50% since mid-2021.
While everyday energy bills are also on the rise, they remain considerably more affordable in comparison.
By sharing your charger, you are actively contributing to reducing the running costs for other EV owners and making the prospect of owning an electric vehicle even more enticing.
Additionally, it’s worth noting that the cost of filling up petrol and diesel engines has reached an astonishing £100.00 in some places.
In contrast, recharging an EV costs only a fraction of that amount even with raised electricity bills.
7. Prolongs Battery Life
There’s a lack of awareness among some EV drivers regarding the potential negative effects of excessive use of rapid chargers for their vehicle's battery replenishment.
Rapid chargers operate on DC power at high wattage, delivering a powerful current to the battery in a short space of time.
Repeatedly subjecting the battery to this type of charging can potentially impact its overall health and reduce its usable lifespan.
To extend the longevity of EV batteries, it’s recommended to utilise destination "top-up" charging via shared charge-points that operate on AC power.
This gentler charging method can significantly prolong the life of the battery.
By adopting this approach, our EVs can exceed their expected lifespan and provide many more years of enjoyable driving experiences.
8. Help Others Out
In the EV community, it’s widely recognised that there’s immense satisfaction in assisting others in transitioning to electric vehicles.
As early adopters, many of us were eager to embrace electric vehicles when they first became available.
However, convincing the late adopters, who are more resistant to change, poses a greater challenge.
By making our chargers available to them, we can help them understand that switching to electric is much simpler and more feasible than they might have believed.
The sooner they realise this, the more likely they’ll be to make the leap themselves.
Pitfalls of EV Charger Sharing
While the concept of charger sharing is undoubtedly attractive, it’s essential to consider a few important factors.
Certainly, the advantages of charger sharing outweigh the disadvantages.
However, before deciding to proceed, it’s crucial to be mindful of potential challenges or obstacles that may arise.
Sharing Your Driveway
When renting out your charger, it's important to consider the fact that unfamiliar individuals may arrive at your driveway and potentially stay for several hours.
Ensure that you are comfortable with the idea of someone parking their vehicle at your home and utilising your charger.
Additionally, it’s advisable to inform your neighbors about your charger sharing arrangements.
This will help prevent any misunderstandings or concerns, ensuring they do not mistakenly report a stranger's vehicle charging on your property to the authorities.
Dealing with Strangers
Although the majority of individuals are law-abiding and decent, there’s always a few shady characters.
Sharing your charger entails welcoming people from all walks of life to park at your residence.
If you prefer to be present during the charging process, you'll have to interact with them directly.
If the idea makes you anxious, charger sharing might not be suitable for you.
Potential Charger Damage
While it’s uncommon, it’s possible for your EV charger to sustain damage due to accidental mishandling or regular wear and tear.
Potential issues include cracked charger cables, split plugs, or the unit becoming dislodged from the wall.
These scenarios are plausible but rarely occur, as previously mentioned.
In the event that damage does happen, the question arises as to who’s responsible.
Additionally, it's important to consider whether home insurance covers any damages that may occur.
Using an untethered EV charger can help alleviate this concern, as EV owners would be required to use their own cable.
However, if your charger is tethered, it relies on others to use it responsibly.
Conclusion
Charger sharing offers a win-win situation for everyone in the EV community.
If you own a charger, you have the opportunity to pay it off more quickly and generate a reliable income by renting it out.
As drivers, having a wider range of locations to park and charge is precisely what we desire.
The truth is, owning and refueling an EV is a vastly different experience compared to using a petrol or diesel vehicle.
For the electric revolution to thrive in the future, we must adapt and reprogram the way we drive and charge our cars.
By shifting our mindset towards point-to-point destination charging, we can achieve success.
This adjustment is relatively small and straightforward, yet fundamentally important.
Charger sharing is the solution, and with apps like Joosup, we can make it a reality.
