Shoals Technologies and Brookfield Renewable Partner on EV Charging

As the push for electric vehicles increases, including potential government subsidies for infrastructure, one business development is a strategy to provide capital in advance for charging networks, including at commercial real estate. The customer pays a fee for the use.

This approach popped up in January, with a Texas-based company launching Amperage Capital, backed by some large Dallas family offices. The company would invest in designated EV charging spaces in multifamily developments by paying for construction costs and charging equipment, according to a press release.

Shoals Technologies Group, which provides systems for solar, battery storage, and EV charging applications, is partnering with Brookfield Renewable, part of Brookfield Asset Management, which has a “diversified portfolio consists of hydroelectric, wind, solar, distributed energy and sustainable technology solutions across five continents.” According to a press release, the two plan a “charging as a service” offering. “This new product offering eliminates large up-front payments and enables streamlined deployment of charging networks for fleets, retail, multi-unit dwellings, and other large commercial properties.”

Deploying charging systems is expensive. Not only is there equipment, but a need for infrastructure as well as engineering and installation expertise. “Moreover, traditional installation of EV charging infrastructure with trenching results in months of disruption to site operations and can face significant technical and regulatory hurdles,” the companies said.

“Building on previous collaborations between Shoals and Brookfield, this strategic partnership brings together Brookfield’s global scale as one of the largest fully integrated providers of distributed energy and renewable power solutions with Shoals’ industry-leading Fuel by Shoals® product offering, an above-ground EV charging infrastructure solution that reduces installation time and labor requirements while offering charger flexibility. Together, Shoals and Brookfield provide significant commercial, technical, and financing expertise to deliver full-service, end-to-end solutions for customers.”

Subscribers pay a monthly fee for a fixed period of time, which effectively sounds like payments on a loan. Customers have flexibility in choosing which EV chargers to use. They will also be able to include solar, battery energy storage, and other distributed energy products. This may prove important because not all grid substations will necessarily have the ability to support all the power demand, especially if multiple locations in an area of coverage simultaneously want to add EV charging capacity.

Such offerings will likely only continue to develop as demand for charging increases, and while federal money is available.