EV Charger Ownership: Aren't the chargers owned by SWTCH?

SWTCH Energy's business model is primarily focused on providing the technology and services for EV charging solutions, particularly for multi-tenant properties (like apartment buildings, condos, and workplaces) and some public/retail spaces.

While they do have options where they own the chargers as part of a "Charging-as-a-Service" model, the bulk of their customers actually own their chargers.

Here's a breakdown of their approach to charger ownership:

• Customer-Owned Chargers (Most Common): The majority of SWTCH's customers (property owners, businesses, etc.) purchase and own the EV charging hardware. In this scenario, SWTCH provides:
  • Their software platform (including load management, billing, access control, and a management dashboard).
     
  • Operations and maintenance support for the chargers.
     

  • The property owner covers the upfront investment, has full control over pricing, and receives all the revenue from the chargers.

     

• SWTCH-Owned Chargers (Charging-as-a-Service): SWTCH also offers a "Charging-as-a-Service" model. In this model, SWTCH does own the chargers. This is particularly appealing to customers who want to avoid the upfront capital expenditure (CapEx) of purchasing the hardware. With this option:
  • SWTCH covers the upfront investment and owns the chargers.
  • They work with the site host on a set fee or revenue-sharing model.

  • This model can be especially beneficial when there are significant government incentives available, as SWTCH can incorporate those upfront to offer a lower cost to the site host.

     

• Partnerships: SWTCH also partners with other entities, such as itselectric, a curbside EV charging company. In such partnerships, SWTCH provides its software and management platform to power the partner's network, and the partner might be the primary owner and operator of the physical chargers.
   

In essence, SWTCH's core strength is its intelligent energy management software and comprehensive service platform. They aim to make it easy for property owners to deploy and manage EV charging, regardless of whether the property owner buys the chargers outright or opts for SWTCH to provide them as a service.