Making money with your home EV charger
Charge point sharing is like an Airbnb but for your home electric car charger.
Instead of renting out your house or spare room, you can rent out your electric car charging point on occasions when it's not needed to charge your own electric vehicle.
The host gets paid for the energy used and the chargee (the person paying to use the charger) pays a much lower price for a charge session at a convenient location that will save them money compared to using public charging networks.
Hosts can control how much the chargee pays, but it’s possible to earn hundreds of pounds a year from renting out a home charger.
What are the benefits of renting out your EV charger?
Aside from earning you money, there are a number of additional benefits that come with joining a charge point sharing scheme.
Your electric vehicle charger will pay for itself
Pictured charger: Andersen A2
There are a range of smart home chargers available at different price points, but the average investment is around £1,000.
Electric vehicle drivers will make that money back through savings on running costs, but that return will be even shorter by renting out a charger through a service like Co Charger, Zap-home and more (see below).
As an example, a host might pay 12p per kWh for their home electricity and have a standard, 7.4kW charger.
There might be four neighbours who each use 40kWh of charge per week (about average) through the host’s EV charging point.
Then if the host would charge £1.70 per hour, then the chargees will pay £9.19 per session, of which £3.47 is profit to the host, adding up to £721 per year.
Different peer-to-peer charging networks will give an indication of what to charge per kWh, but hosts can usually set any price they deem as fair between the price of the energy and earning profit on top.
The cost of energy is changing all the time so it's really important to make sure that whatever you're charging, that it at the very least covers the cost you are being charged on your domestic electricity tariff, while still setting a price at a level that is still below the cost of public charging.
You can help expand the number of electric vehicle chargers available in your area
Pictured charger: Tesla Wall Connector 3rd generation
The electric vehicle community is predominantly a welcoming one and providing the ability to get cheaper energy will ultimately help more people with no off-street parking make the switch to zero emissions.
This is particularly important due to the fact that those that don't have home chargers are paying up to four times more tax for electricity compared to using public charging networks.
VAT on domestic electricity is set at 5% whereas the rate is set at 20% for public charging networks.
The UK government is facing some industry pressure to make this change, but while the rules remain as they are, there is currently a two tier system for those with home charge points and those without.
Peer-to-peer charging creates another charging option for EV owners in addition to destination charging, rapid chargers and workplace charging.
Companies like Co Charger have already added 4,500 additional charge points through its network of EV owners that are happy to rent out their electric vehicle charger and there are plans to increase this up to 14,000 across the UK.
Compare EV chargers
Looking for a home charger but are unsure which one to buy? Our EV charge point comparison tool lets you compare our chargers side-by-side to help decide.
What should I consider before renting out my home EV charger?
Pictured charger: Hypervolt Home 3
Check that your charger's manufacturer allows for charge point sharing under their warranty
It's always worth checking with the manufacturer of your smart home charger to see if there's any reason why using a peer-to-peer service would invalidate your warranty.
Smart Home Charge isn't aware of any current clauses that would create an issue when using peer-to-peer services, but it's technically possible that manufacturers could add clauses in the future.
Strangers will be parking on your private property and using your EV charger
Hosts have the control to approve or deny a charging session. The point of peer-to-peer charging is for regular charging sessions, so it's likely whoever is turning up to charge will perhaps become a regular acquaintance.
There's certainly a community-driven spirit required when considering renting out a charger, but it's possible to try it and then pause or stop if it's not something that works for you.
When it comes to insurance, theft or damage occurring when carrying out a charger session is likely to be covered by your car insurance in the same way as when you are on the public road.
A host’s household insurance may also cover damage to the host’s property, but this is less certain. It's best for hosts and chargees to check with their insurer just in case they need to make a claim.
Co Charger said that after "thousands of sessions" there have never been any damage or disputes, but it's down to individuals to judge the level of risk.
How do I get started with sharing my home charging point?
Pictured charger: Ohme ePod
There are multiple options so far in the UK to consider for anyone looking to rent out their smart home charger.
Co Charger proposes that communities can move away from diesel and petrol together with those with off-street parking helping to support those without.
The business was founded by Joel Teague after buying an EV with no reliable way to charge locally. Read our full interview with Joel.
Zap-Map, the UK-wide map of charging points, has created a peer-to-peer network for its registered users. To access other Zap-Home points, users have to contact owners of the specific home point they wish to use.
JustCharge is JustPark's network of bookable EV home chargers. It says that by using already existing infrastructure, JustCharge is expanding access to EV charging points rapidly yet sustainably.
Bookmycharge is another national network of EV chargepoints, mainly owned by private individuals and businesses. Hosts can choose a fee level that works for them and can make their EV charging point available on days that suit their needs.
I have a parking space that I would like to rent out to EV drivers but I don't have a home charging point. Can I have one installed?
Once you have your charge point installed and signed up to a peer-to-peer charging service you will be able to start earning money back for hosting sessions.