NYC Startup Pays You to Charge EVs: A $150 Billion Opportunity?
New York Post 9 months ago
870

NYC Startup Pays You to Charge EVs: A $150 Billion Opportunity?

BUSINESS
evcharging
nycstartup
electricvehicles
cleanenergy
investment
Share this content:

Summary:

  • It's Electric, a NYC startup, is installing curbside EV chargers and paying property owners for the electricity.

  • NYC expects a massive increase in EV registrations, creating a critical need for expanded charging infrastructure.

  • Property owners can earn up to $3,500 annually by participating in the program.

  • The company focuses on Level 2 chargers, suitable for overnight charging in residential areas.

  • The EV charging market is projected to reach $150 billion by 2030.

It's Electric: Revolutionizing NYC's EV Charging Game

Brooklyn-based startup It's Electric is tackling NYC's electric vehicle (EV) charging infrastructure problem head-on. They're installing curbside EV chargers in front of residential and commercial properties and paying owners for the electricity used. This innovative approach addresses the lack of home charging solutions for many city dwellers.

The Growing Need for EV Chargers

With the US aiming for 50% electric car sales by 2030, NYC alone anticipates a massive surge in EV registrations – from 62,000 to 3 million. This creates a critical need for more charging stations, especially in densely populated areas.

It's Electric's Solution

It's Electric's compact chargers are smaller than a fire hydrant, offering a convenient and unobtrusive solution. Drivers pay around $10 per session, with the majority of the revenue going directly to the property owner. Property owners could earn up to $3,500 annually without increased electricity bills, thanks to separate metering.

The Power Couple Behind It's Electric

Co-founders and married couple Nathan King and Tiya Gordon launched It's Electric after personally experiencing the challenges of EV charging in the city. Their business model and innovative charger design aim to drastically increase the number of charging stations, and attract venture capital investment from firms like Brooklyn Bridge Ventures and Uber.

Level 2 Charging: The Focus

It's Electric focuses on Level 2 chargers, which are ideal for overnight charging. They contrast with faster but more energy-intensive Level 3 chargers. This aligns with the NYC Department of Transportation's strategy to prioritize Level 2 infrastructure.

A Lucrative Future

The company has already raised $11.8 million. The EV charging market is projected to be worth $150 billion by 2030, making It's Electric's early entry into the market potentially lucrative.

Expanding Nationwide

Currently operating in Brooklyn and Detroit, It's Electric plans to expand to six more cities, including Boston, Jersey City and Los Angeles in 2025, rapidly becoming a key player in the EV revolution.

Comments

0

Join Our Community

Sign up to share your thoughts, engage with others, and become part of our growing community.

No comments yet

Be the first to share your thoughts and start the conversation!

Newsletter

Subscribe our newsletter to receive our daily digested news

Join our newsletter and get the latest updates delivered straight to your inbox.

NewYorkNews.app logo

NewYorkNews.app

Get NewYorkNews.app on your phone!

Other Latest News

Political Violence in America: From Utah to New York, A Wave of Attacks Shakes the Nation

Political Violence in America: From Utah to New York, A Wave of Attacks Shakes the Nation

8 minutes ago
800
Ryan Reynolds' Generous Act: Helping a Young Cancer Patient's NYC Dream Come True

Ryan Reynolds' Generous Act: Helping a Young Cancer Patient's NYC Dream Come True

1 hour ago
870
Hochul Soars, Stefanik Stumbles:  NY Governor's Race Takes a Dramatic Turn

Hochul Soars, Stefanik Stumbles: NY Governor's Race Takes a Dramatic Turn

2 hours ago
830
NYC's Trinketcore Trend: Tiny Treasures Taking Over the City!

NYC's Trinketcore Trend: Tiny Treasures Taking Over the City!

2 hours ago
850
NYC CEO Murder: Terrorism Charges Dropped, But Justice Still Sought!

NYC CEO Murder: Terrorism Charges Dropped, But Justice Still Sought!

3 hours ago
810
NYC Foodie Alert! Mexico City's Legendary Pujol Restaurant is Coming for a Limited Time!

NYC Foodie Alert! Mexico City's Legendary Pujol Restaurant is Coming for a Limited Time!

4 hours ago
830
NYC's Trash Revolution Conquers Brooklyn:  Empire Bins Take on Rat Infestation!

NYC's Trash Revolution Conquers Brooklyn: Empire Bins Take on Rat Infestation!

5 hours ago
850
NYC's Fall Theater Scene: 15 Must-See Shows You Won't Want to Miss!

NYC's Fall Theater Scene: 15 Must-See Shows You Won't Want to Miss!

5 hours ago
880
NYC CEO Murder: Terrorism Charges Dropped, But Will Killer Face the Death Penalty?

NYC CEO Murder: Terrorism Charges Dropped, But Will Killer Face the Death Penalty?

4 hours ago
820
NYC CEO Murder Trial: Terrorism Charges Dropped, But Will Justice Prevail?

NYC CEO Murder Trial: Terrorism Charges Dropped, But Will Justice Prevail?

3 hours ago
910
NYC Judge Dismisses Terrorism Charges Against CEO Killer, Murder Count Remains

NYC Judge Dismisses Terrorism Charges Against CEO Killer, Murder Count Remains

6 hours ago
880
NYC Murder Trial: Terrorism Charges Dropped, but CEO's Killer Still Faces Justice

NYC Murder Trial: Terrorism Charges Dropped, but CEO's Killer Still Faces Justice

6 hours ago
880
Civil Rights Icon Ruby Bridges Stuns NYC Fashion Week!

Civil Rights Icon Ruby Bridges Stuns NYC Fashion Week!

7 hours ago
900
NYU Freshman's Dorm Defaced with Antisemitic Graffiti: NYPD Investigates

NYU Freshman's Dorm Defaced with Antisemitic Graffiti: NYPD Investigates

20 hours ago
950
Tragedy Strikes: NYC Man Dies in Monroe County ATV Crash

Tragedy Strikes: NYC Man Dies in Monroe County ATV Crash

22 hours ago
880
NYC Man Charged with Murder After Deadly Hit-and-Run: Teen Girl Killed

NYC Man Charged with Murder After Deadly Hit-and-Run: Teen Girl Killed

1 day ago
920
Gaza Biennale: NYC Exhibit Showcases Art as Survival Amidst War

Gaza Biennale: NYC Exhibit Showcases Art as Survival Amidst War

1 day ago
860
NYC's San Gennaro Feast Returns: 99 Years of Italian Delights!

NYC's San Gennaro Feast Returns: 99 Years of Italian Delights!

1 day ago
820
NYC's Israel-Palestine Poster War: A Documentary Reveals the Untold Story

NYC's Israel-Palestine Poster War: A Documentary Reveals the Untold Story

1 day ago
950
Trump Slams Hochul's Shocking NYC Mayoral Endorsement: A Political Earthquake?

Trump Slams Hochul's Shocking NYC Mayoral Endorsement: A Political Earthquake?

1 day ago
930
NYC's Latino Leaders: Power Players Shaping the City's Future

NYC's Latino Leaders: Power Players Shaping the City's Future

21 hours ago
860
NYC Gridlock Alert Days 2025: Avoid the Chaos!

NYC Gridlock Alert Days 2025: Avoid the Chaos!

1 day ago
910
NYC Horror: Man Kills Teen Girl After Argument, Faces Murder Charges

NYC Horror: Man Kills Teen Girl After Argument, Faces Murder Charges

1 day ago
840
Trump Threatens NYC Again After Hochul's Shocking Mayoral Endorsement

Trump Threatens NYC Again After Hochul's Shocking Mayoral Endorsement

1 day ago
920
NYC Gridlock Alert: Avoid These Dates in 2025!

NYC Gridlock Alert: Avoid These Dates in 2025!

1 day ago
910
Measles Alert! NYC Health Officials Warn of Possible Exposure in Manhattan

Measles Alert! NYC Health Officials Warn of Possible Exposure in Manhattan

1 day ago
940
Mamdani's Bold Plan: Can a Civilian Agency Solve NYC's Crime Crisis?

Mamdani's Bold Plan: Can a Civilian Agency Solve NYC's Crime Crisis?

21 hours ago
840
Barclays' Billion-Dollar NYC HQ Makeover: Times Square Transformation

Barclays' Billion-Dollar NYC HQ Makeover: Times Square Transformation

1 day ago
990
NYC Bus Crisis: Can European Solutions Fix Our Failing Transit System?

NYC Bus Crisis: Can European Solutions Fix Our Failing Transit System?

20 hours ago
830
NYC Horror: Driver Kills Teen Girl in Intentional Hit-and-Run

NYC Horror: Driver Kills Teen Girl in Intentional Hit-and-Run

23 hours ago
860