Elby turns buildings into EV-charging cooperatives, with residents sharing revenues

In August 2023, fully electric vehicles hit a record of over one-fifth of new car sales in Europe, in addition to 23.9% hybrid-electric vehicles. Unsurprisingly, charging infrastructure is struggling to keep up with that exponential growth, especially in urban areas. Copenhagen-based Elby just launched a potential solution: integrating chargers into the walls of existing multistory buildings that have adjacent street parking.

Vehicle owners use their own cable to connect their car to a wall unit, running the cable through a slim gutter cut into the sidewalk. They switch on the charger using Elby's app and pay DKK 2 (USD 0.28/EUR 0.27) plus the cost of electricity, among the lowest charging rates in the Danish market, with no subscription or hidden fees. Building owners, meanwhile, receive up to 60% of profits generated from their Elby sockets.

Multistory buildings typically have excess power capacity that's rarely used. Elby is equipped with a load balancer, ensuring the system never draws too much electricity and the energy needs of apartments and their residents are prioritized. The Danish startup's innovation is patent-pending, open for preorders now and set to roll out in Greater Copenhagen in H1 2024. The introductory price for corporate and rental properties is DKK 20,000 (USD 2,839/EUR 2,682); for owner-occupied buildings and public housing, Elby will seek to cover outlay costs.