Can you rent an electric car charger?

As the world of automotive shifts into top gear towards more sustainable modes of transport, electric vehicles (EVs) are becoming an increasingly common sight on our roads. So much so that the surge in EV adoption has created a new opportunity for property owners: renting out electric car chargers. 

Whether or not you’re a homeowner looking to make some extra cash by renting out your personal EV charger, or want to invest in an electric car but don’t have the means of charging it at home, accessing the Community Charging network could provide you with the perfect solution.  

In this article, we explore the nuts and bolts of renting out electric car chargers; from understanding your options to explaining how to go about the process, our guide will give you a better understanding of renting an EV charger. 

What are the benefits of renting an EV charger?

For the driver: 

• Convenient access to chargers in your area
• No need to have a charger installed at your own premises
• Ideal solution for homeowners without private drives
• Access to a wider network of chargers no matter where you’re located
• Helps to alleviate range anxiety

For the host:

• An extra income stream
• Your EV charger will end up paying for itself
• Adding to a network of accessible chargers in your area
• Helping drivers in your community
• Contributing to a greener future 

Can you rent an EV charger?

Yes, you can rent electric car chargers in the UK and the good news for EV drivers is that the service is becoming increasingly common as electric vehicle adoption grows. As we know, the charging point infrastructure needs to dramatically improve in order to give drivers the confidence to invest in EVs. 

Many motorists - particularly in rural areas - are nervous about switching from a diesel or petrol car in favour of a 100% electric vehicle due to the lack of charging points in their area. While the EV charging network in the UK is ever-expanding, there’s still work to be done to convince drivers to make the switch. 

This is where the benefits of renting an electric car charger come into their own. For homeowners who already have charge points fitted at their property, it provides an opportunity to make extra money and see a return on investment for their chargers. For drivers of electric vehicles, accessing a wider network of chargers can provide a lifeline if having a charge point installed on their own property is not possible.   

Community Charging is a scheme rapidly being adopted by homeowners across the country. These types of schemes allow drivers to access EV chargers in their area via an Airbnb-style rental setup. Anyone with a home charger can join the scheme which provides electric vehicle drivers with convenient and affordable access to a charge point. We explain more about these types of schemes, below. 

What is a Community Charging network?

A Community Charging network is a shared network of electric vehicle charging points that are accessible to multiple users within a specific community or area. It is estimated that over 700,000 homeowners in the UK have an EV charger installed on their property, which is over 10 times more than the public points currently available across the country. 

Community Charging networks are becoming increasingly popular as a solution to expand the charging infrastructure, particularly in areas where individual home charging isn't feasible for all residents. The scheme enables EV drivers to access a charger for their vehicle at someone else’s house while not being used - it’s no different to rental drive schemes like JustPark.

Co Charger is one such Community Charging app matching hosts with drivers to use during periods of downtime - which is surprisingly more often than you may think. In fact, it is estimated that people who have their own electric car charger at home only use it around 5% of the time, meaning that for 95% of the time it could, in theory, be rented out to other EV drivers in the area who don’t have access to a charging point.  

How much can you make renting out an EV charger?

If you’re hoping to rent out your home car charger then of course you want to ensure it is profitable for you as the host, while still being a good deal for the person renting it. How much you can make renting out your EV charger will very much depend on your current energy tariff. 

To work out how much money you can earn, firstly find out how much your electricity rate per kWh costs at peak times, plus the power output in kW of your charge point to calculate the charging cost per hour. You’ll then want to consider what profit margin you’d expect per hour of rental. 

Community Charging apps like Co Charger provide a free-to-use host rate calculator on their website so you can find out what your earning potential is - bear in mind that if you join a scheme like Co Charger, they will charge you a fee to be part of their network.  

Where can I charge my electric car for free in the UK?

If you don’t have access to your own EV charging point and you want to keep costs down, then there are some alternative options. For example, there are several places where you can charge your electric car for free in the UK, so it’s all about being savvy and maximising the options available on your doorstep. Here’s where you can find free EV charging points:

• Some supermarket chains like Tesco, Sainsbury's, and Lidl often offer free charging while you shop.
• Some public car parks, especially in city centres, provide free charging on a first-come-first-served basis for a limited period of time.
• Many employers offer free charging as a perk for employees.
• Some accommodations such as hotels and B&Bs provide free charging for guests.
• Car dealerships, especially those selling EVs, may offer free charging.
• Some public service buildings such as libraries, leisure centres, or council offices might have free chargers.
• Certain restaurants and pubs offer free charging as a way to attract customers. 
• Larger shopping centres sometimes provide free charging in their car parks.
• Some National Trust locations offer free charging for visitors.
• The Pod Point network still offers some free charging points, though they're becoming less common now.

Electric and hybrid vehicle finance

Are you hoping to make the switch to an electric car? Then why not make the most of your budget with our flexible and affordable electric vehicle finance solutions - we can make your EV dream a reality! Whether you want to go fully electric or have your eye on a hybrid model, we can help.

As a leading vehicle finance broker, here at Octane Finance, we work with lenders across the UK to secure the best deals for our customers. Even if you are hoping for a zero deposit deal or have been refused credit elsewhere, our in-house experts are happy to discuss your options. Get in touch to find out more.