Latest news with #ChargeScape
Axios
14-05-2025
- Automotive
- Axios
Electric cars could earn while their owners sleep
ChargeScape is one way automakers are trying to smooth the transition to electric vehicles by shoring up the nation's power grid and saving drivers money on charging. Why it matters: As electric vehicle ownership grows, charging risks putting an extra strain on the grid at certain times of the day. Imagine turning that problem around by using EVs to support the grid during peak demand instead. The big picture: About 80% of EV charging occurs at home, according to U.S. Department of Energy estimates. At the same time, the nation's power grids have come under increasing strain due to electricity demand from data centers and the intermittent nature of renewables. ChargeScape, a joint venture by BMW, Ford, Honda and Nissan, aims to address that problem while helping customers recoup some of the costs of owning an EV. How it works: ChargeScape's software allows EVs to communicate with utilities while they're plugged in, managing the flow of electrons to match real-time conditions on the power grid. During the late afternoon, for example, when energy demand is high, ChargeScape can temporarily pause or slow EV charging through its smart charging software. Smart thermostats do the same thing in your home by shutting off the AC for a minute or two. Driving the news: In California, ChargeScape just announced a partnership with an energy platform called Leap to create the nation's largest EV virtual power plant to help manage peak summer demand. It can draw energy out of a vehicle and send it back into the power grid when needed, using vehicle-to-grid (V2G) technology. Some Ford and Nissan vehicles have bidirectional charging today, and others will soon. Follow the money: In return for their flexibility, EV drivers get rewarded with sign-up bonuses and discounts on their home electric bill. Incentives vary by utility, but in Sacramento, for instance, the local utility pays BMW EV owners a $150 incentive for enrolling in BMW's ChargeForward program, and a recurring $20 reward each quarter. With bidirectional power-sharing, EV drivers could earn up to $3,000 per year, and some utilities offer up to a $4,000 one-time incentive to help cover the cost of the bidirectional charging equipment, says ChargeScape CEO Joseph Vellone. Yes, but: Importantly, the EV owner is assured that their vehicle will be fully charged by the time they specify. "You think we're managing your charging aggressively," says Alexander Schleicher, who heads up e-mobility and charging strategy for BMW. "But that's not the case. We're shifting charging for maybe 30 minutes through the night." Where it stands: The program is young, but ChargeScape is already working with about a dozen utilities, covering 25 million U.S. households.
Yahoo
14-05-2025
- Automotive
- Yahoo
Electric Vehicles Update - Strategic Partnership Boosts Grid Capacity With EV Integration
Leap and ChargeScape have announced a strategic partnership focused on enhancing electric vehicle (EV) integration into U.S. electric grids. By building the nation's largest EV virtual power plant, the initiative aims to boost grid capacity and provide financial benefits to EV owners. ChargeScape's platform, which connects power grids with major automakers, will work with Leap's market automation technology to facilitate EV participation in various grid services. This collaboration not only offers new revenue streams for automakers but also seeks to make EV ownership more affordable, while strengthening grid resiliency and extending market access across the country. In other market news, was a notable mover up 6.5% and closing at THB114.00. Meanwhile, trailed, down 6% to end the day at ¥1,892. Ford's strategic shift to electric vehicles and software services might position it for high-margin growth. Explore the full narrative on Ford Motor Company's transformation and market potential by clicking here. Don't miss our Market Insights article, "Automakers Caught In The Tariff Crossfire," where we urgently explored the impact of tariffs on the electric vehicle market and investment opportunities therein. finished trading at $334.07 up 4.9%. closed at HK$414.60 up 4.7%, near its 52-week high. settled at $10.60 up 0.5%. Two days ago, a proposal regarding supply chain GHG emissions was not approved by Ford shareholders. Unlock our comprehensive list of 54 EV Stocks like Lucid Group, Hyundai MobisLtd and Li Auto by clicking here. Curious About Other Options? The end of cancer? These 24 emerging AI stocks are developing tech that will allow early idenification of life changing disesaes like cancer and Alzheimer's. This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Sources: Simply Wall St "Leap and ChargeScape Aim to Build the Nation's Largest EV Virtual Power Plant" from ChargeScape on GlobeNewswire (published 14 May 2025) Companies discussed in this article include SET:DELTA NasdaqGS:TSLA SEHK:1211 NYSE:F and TSE:7202. This article was originally published by Simply Wall St. Have feedback on this article? Concerned about the content? with us directly. Alternatively, email editorial-team@ Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Forbes
14-05-2025
- Automotive
- Forbes
Partnership Reduces Grid Stress And Pays EV Owners
SOUTH SAN FRANCISCO, CA - AUGUST 30: The sun shines over towers carrying electical lines in South ... More San Francisco, California. (Photo by) A new partnership aims to reduce the strain on the power grid while boosting electric vehicle adoption by putting money back in the pockets of EV owners. The partnership between Leap and ChargeScape will create the nation's largest EV virtual power plant, the companies announced Wednesday. A virtual power plant, or VPP, combines the capacity of what's known as distributed energy resources such as solar farms, EVs and EV chargers, batteries, household appliances, heating and ventilation equipment and others that can be flexibly charged or accessed to provide power back to the grid. When effectively managed, a VPP can provide some of the same services as a traditional power plant. Graphic shows how the concept of virtual power plants, or VPPs, works. Leap specializes in creating and managing VPPs, providing financial reward for its partners. 'What we're enabling our partners to do is monetize what we call their flexibility, their ability to control load behind the meter, control these stationary batteries, or mobile batteries and EVs, and monetize them as capacity and energy for grid operators,' explained Leap CEO Jason Michaels, in an interview. Graphic explains payment arrangement using virtual power plants. ChargeScape's charging platform connects power grids with automotive brands that include BMW, Ford, Honda, Nissan and Tesla, also providing financial rewards to EV owners for their flexibility in charging their vehicles. Owners sign up through the automaker's app such as Ford Pass or My BMW, which they already use to manage charging their EVs, then enroll their electric meter with Leap. 'So we deliver all of these electric vehicles from all these automotive brands and all the flexibility that comes with their residential charging, and we plug that into Leap, and we sort of become part of their overall portfolio that they then bid into these energy markets to deliver flexibility,' said ChargeScape CEO Joseph Vellone, in an interview. 'Leap will then tell us we need to either reduce demand during these hours on this day or actually the power grid needs more power. How much can we export through vehicle-to-grid charges? Leaps makes sure that we get paid in the end.' EV owners are then paid directly by ChargeScape through Venmo or PayPal. The results are managing the strain on the power grid, especially during peak load periods such as the heat of summer when air conditioners are in high use and making it financially attractive to own and EV, say both Vellone and Michaels. 'At the end of the day, we are saving Americans money on their EV charging,' said Vellone. 'By making EV charging more affordable, we are making EV ownership or leasing more affordable, reducing the total cost of ownership.' The two systems are connected through Leap's API and it's that connectivity and complementary capabilities that has Michaels especially enthusiastic about partnering with ChargeScape. 'ChargeScape is a really exciting partner for us because of both their technical ability to be able to control the charging of all these different customer devices and their EVs, and also their reach and association with their OEM partners,' Michaels said. 'That's where I think this gets to be really exciting for everybody, because we can do this, not just for one utility program, but really unlock scale.' The partnership is rolling out initially in California where automakers on the ChargeScape platform can earn additional revenue through the Emergency Load Reduction Program, a five-year pilot program designed to pay electricity consumers for reducing energy consumption or increasing electricity supply during periods of electrical grid emergencies. Revenue is also available through California's Demand Side Grid Support program which offers incentives to electric customers that provide load reduction and backup generation to support the state's electrical grid during extreme events from May to October to reduce the risk of rotating power outages. Beyond California, the partners plan to expand to states such as Texas and New York, which Vellone says, have similar power structures to California's along with a high number of electric vehicles.
