The need for electric vehicle (EV) charging stations accelerated in the United States after President Biden set a goal of building out a national network of 500,000 chargers. The plan got an added boost with the announced funding to accelerate the creation of zero-emission vehicle (ZEV) corridors that expand the nation’s EV charging infrastructure. In a recent report, Wood Mackenzie forecast that the market for public charging networks in North America will grow rapidly by 2050.
Playing their role in the adoption are Shoals Technologies and Brookfield Renewable who jointly announced a strategic partnership to introduce a charging-as-a-service (CaaS) solution for EV charging infrastructure. The new service is designed to eliminate large up-front payments and enables streamlined deployment of charging networks for fleets, retail, multi-unit dwellings and other large commercial properties.
EV charging infrastructure normally requires a large up-front capital investment in charging equipment, electrical infrastructure, and installation, and it can require trenching, which can disrupt site operations. There can also be technical and regulatory hurdles. These challenges have been a barrier to the deployment of EV charging at scale. Shoals and Brookfield report that their CaaS solution eliminates some of these challenges with what they are calling “turnkey” above-ground EV charging solutions that make use of the Shoals Big Lead assembly.
The EV charging infrastructure is based on Fuel by Shoals, which is an above-ground EV charging infrastructure solution. Through the partnership, Shoals and Brookfield will provide commercial, technical and financing expertise.
The CaaS solution is aimed at commercial and industrial and public sector customers, EV solution providers, vehicle manufacturers, fleet operators, and other industry participants. The solution offers end users the flexibility to choose EV chargers from various manufacturers. Subscribers will pay a monthly subscription fee over a fixed time period instead of paying costs upfront, freeing up capital for other core priorities.
The CaaS solution can also be customized, allowing customers to include solar, battery energy storage, and other distributed energy products.
“Coupling Brookfield’s financing and operating expertise with Shoals’ leadership in charging infrastructure, our combined CaaS offering will provide a solution for charge point operators looking to replace the necessary up-front capital investments with payments over time, while enabling faster EV charging deployment with minimal site disruption,” said Jeff Tolnar, president of Shoals Technologies.
Brookfield Renewable is the renewable power company of Brookfield Asset Management. Its portfolio consists of hydroelectric, wind, solar, distributed energy, and sustainable technology solutions across five continents. The company reports that its capacity totals approximately 25 GW and a development pipeline of approximately 110 GW of renewable power assets.
Shoals Technologies Group is a provider of electrical balance of system solutions and components for solar, battery storage and EV charging applications. The company reports that its solutions are deployed on over 20 GW of solar systems globally.
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