Eatontown Project Case Study
- Jul 13
- 5 min read
Inside Charge Capital’s completed battery storage and EV fast-charging deployment at Michael’s Plaza in Eatontown, New Jersey.
Charge Capital’s Eatontown project provides a tangible look at how strategically located commercial real estate can be transformed into operating energy infrastructure.
Located at Michael’s Plaza in Eatontown, New Jersey, the completed deployment combines a 660 kWh battery energy storage system with six 200 kW dual-port DC fast chargers.
The project was developed around several factors investors care about at the site level: location quality, customer accessibility, incentive support, projected revenue opportunities and the execution required to move an infrastructure project from underwriting into operations.
Project Snapshot
Location: Michael’s Plaza, Eatontown, New Jersey
Project type: Battery energy storage and EV fast charging
Battery system: 660 kWh
EV charging: Six 200 kW dual-port DC fast chargers
Total project budget: Approximately $3 million
NJDEP grant: Approximately $600,000
JCP&L Make-Ready support: Approximately $150,000
Project status: Construction complete and entering operations
Together, the NJDEP grant and JCP&L Make-Ready support represent approximately $750,000 in grant and utility funding—roughly 25% of the project’s total development budget.
Why the Location Matters
The investment case begins with the real estate.
Michael’s Plaza is an established commercial property near major roadways, existing vehicle traffic and surrounding retail. The location offers visibility, convenient access and amenities drivers can use while their vehicles charge.
A nearby Starbucks creates natural dwell time. Rather than waiting at an isolated charging station, drivers can purchase coffee, work, shop or take a break during their charging session.
From an investment perspective, the relationship is straightforward:
A convenient location can support utilization, and utilization supports charging revenue.
Nearby retail does not determine performance on its own, but it strengthens the site thesis by making charging part of a driver’s existing routine rather than a separate destination.
Charge Capital’s site-selection process therefore evaluates more than whether a property has enough physical space for equipment. It considers the combination of accessibility, traffic, surrounding activity, utility infrastructure and customer convenience.
What Was Built
The completed Eatontown deployment includes six high-powered, dual-port EV fast chargers capable of serving multiple vehicles simultaneously.
The chargers are paired with a 660 kWh battery energy storage system and the supporting electrical infrastructure required to operate the site.
The completed project includes:
EV fast-charging equipment
Battery energy storage
Utility and electrical infrastructure
Energy-management software and controls
Dedicated charging spaces
Safety barriers, signage and site improvements
The physical layout demonstrates how energy infrastructure can be integrated into an existing commercial property without changing the property’s primary retail use.
The chargers provide the customer-facing infrastructure, while the battery adds flexibility to how electricity is stored, managed and delivered at the site.
Project Capital and Incentive Support
The Eatontown project had an approximately $3 million total development budget.
Project capital supported equipment procurement, engineering, permitting, utility work, construction, software, project management and the other costs required to move the site into operations.
The project also received:
Approximately $600,000 through an NJDEP grant
Approximately $150,000 through the JCP&L Make-Ready Program
For investors, project economics are influenced not only by future revenue but also by the initial cost basis.
At Eatontown, approximately $750,000 in grant and utility support helped offset eligible project costs and represented roughly one-quarter of the total development budget.
Qualifying energy infrastructure may also benefit from federal investment tax credits and accelerated depreciation, depending on project eligibility, ownership structure and individual investor circumstances.
Projected Revenue Model
Eatontown was designed around multiple potential sources of revenue and economic value rather than relying on a single income stream.
EV charging revenue
The fast chargers are designed to generate revenue through paid customer charging sessions.
Performance will depend on utilization, pricing, session volume, operating costs and equipment availability. The site’s existing traffic, accessibility and nearby retail amenities are intended to support a convenient customer experience and encourage repeat use.
Battery energy management
The battery system provides flexibility in how electricity is stored and used at the property.
Depending on electricity prices, charging demand and the site’s operating strategy, the battery may help manage when electricity is drawn from the grid and how energy is delivered to the charging equipment.
Utility and grid programs
Subject to eligibility and market conditions, the battery may participate in demand-response, capacity or other utility and grid-support programs.
These programs can create additional potential revenue beyond customer charging activity.
Incentives and tax benefits
Grant funding, utility support and potential federal tax benefits can contribute to the project’s overall value by offsetting eligible development costs and improving the effective cost basis.
Together, these components create a projected revenue and value stack built around the interaction between the location, charging activity, battery operations and available incentives.
What Completion Represents
Before completion, Eatontown existed through site agreements, utility applications, engineering plans, incentive approvals, equipment orders and financial underwriting.
Today, that work has been converted into installed infrastructure at a specific commercial property.
The battery is installed.
The chargers are in place.
The utility and electrical infrastructure has been constructed.
The site is now entering the phase where utilization, revenue, battery activity, equipment performance and operating costs can be measured against the original underwriting.
For investors, this transition matters because it demonstrates the ability to move a project through the full development process—from site selection and utility coordination to permitting, procurement and construction.
Eatontown is no longer only part of a development pipeline. It is a completed physical asset entering operations.
A Tangible Example of the Broader Strategy
Eatontown represents the type of localized energy infrastructure Charge Capital is developing across its broader pipeline.
The model combines:
Strategically located commercial real estate
Long-term site control
Battery energy storage
EV fast charging
Utility coordination
Incentive support
Construction execution
Long-term asset management
Eatontown provides a completed example of how those elements can come together at one active commercial property.
It is a site investors can see, understand and evaluate—and a tangible example of Charge Capital’s broader strategy to build a distributed energy network across strategically located real estate.
Explore the Broader Pipeline
Eatontown is one completed deployment within Charge Capital’s broader Distributed Energy Network strategy.
Review the Charge Capital Pipeline Deck to see our active deployment programs, secured site pipeline, project-level economics and broader investment opportunity.
Investors interested in discussing the strategy directly may also
schedule a private call with the Charge Capital team.
Disclosure: This content is for informational purposes only and does not constitute an offer to sell or a solicitation of an offer to buy securities. Any offering is made only through formal offering documents and is available only to verified accredited investors. Projections and forward-looking statements are based on current assumptions and are subject to change. Actual results may vary materially.
