Detailed Program Terms

Program Overview

 

Peak Drive will establish the ability of Electric Vehicles (EVs) to give power back to a building during the most expensive electricity hours of the year, reducing energy costs and greenhouse gas emissions.

We envision a future where EV owners will be paid to plug in and make their car batteries available to the energy system in times of need. Peak Drive is the first step toward this future. We want engaged building tenants to play the role of the future participant, but instead of getting paid to plug in, they will receive significant benefits in the form of a reduced lease price for a 2019 Nissan Leaf, access to daily parking at work, and a free home charger.

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General Eligibility Requirements

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• Participant must have access to a dedicated parking space at home and the ability to install a small, wall-mounted EV charger in said parking space;

• Participant must be comfortable with the collection of some driving data, including driving patterns and the battery state of charge (SoC);

  • In order to commercialize our software, we must understand driving patterns, real-time battery State of Charge, and how these variables impact the amount of battery charge that would be available for an energy Event;

• Participant will be required to download an app that will enable Peak Drive to communicate with them;

• Participant must have strong credit and driving histories;

• Participant must maintain personal auto insurance during the Project term.

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Program Benefits

 

In addition to the monthly Peak Drive Energy Savings Rebate on the lease (see lease details below), Peak will also provide:

• • Access to monthly reserved parking in the Project Building during the Term of the Lease for no extra cost;

  • A home charger, free of charge.

• Full use of the EV, as desired, throughout the Lease Term, notwithstanding complying with the Program Rules and Lease Details.

  • The Program’s standard model is the 2019 Nissan Leaf SV Plus, featuring:

    • 360 km range

    • 17" 5-spoke aluminum-alloy wheels

    • NissanConnectSM with Navigation featuring Apple CarPlayTM and Android AutoTM

    • ProPILOT Assist: Steering Assist, Intelligent Cruise Control w/ Full Speed Range & Hold

 

• For ~$50/month more, there is an option to upgrade to the SL Plus model, which adds the following features:

  • Heated Outside Mirrors with Integrated Turn Signals

  • Leather Appointed Seats

  • Intelligent Around View® Monitor

  • Driver Attention Alert

  • Bose® Premium Audio System with AM/FM/CD and QVGA colour monitor (7 speakers)

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Rules & Requirements

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Events

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• An Event is a window of time, generally 3 – 4 hours in length, that Peak expects to need to discharge the EV back to the building;

  • Peak expects to call less than 30 Events per year (i.e. most days of the year will not be Event days);

  • Of the ~30 Events annually, we expect approximately 15 - 20 will fall outside of typical work hours, which may require the EV to remain plugged in until ~8pm on a weekday;

    • If the Participant needs to leave sooner on these days, they will be asked to leave the EV parked at the Project Building and find an alternate way home;

  • Peak will provide at least 24-hours notice of the timing of a potential Event;

  • Peak will endeavour to provide Participant with a weekly update every Sunday evening regarding the timing of potential Events in the upcoming week.

  • Events typically occur during the summer;

• Within reason, Participant must use the EV as their main mode of transportation to the Project Building, even on non-Event days;

  • EV should be plugged into its dedicated charger when parked in Project Building;

  • If the Participant needs to travel for an extended period of time, like for a business trip or vacation, the EV should be left plugged in at the Project Building for the duration of the trip.

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Additional​

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• Defaults:

  • Participant will be granted 4 Event defaults annually;

    • A default is defined as the EV not being plugged in at the Participating Building during an Event;

  • After the 4th Event default, Peak Drive reserves the right to remove the Peak Drive Energy Savings Rebate, thereby exposing the full market price of the EV lease to the Participant, and charge Participant the full price of parking, which is determined by the parking lot owner;

  • Upon significant non-compliance with Program Rules (7 or more defaults per year), Peak Drive reserves the right to terminate the EV lease and repossess the EV.

• Mitigating Circumstances:

  • Participant will be offered exemptions on Defaults if they are due to Mitigating Circumstances. Examples of such are provided below (non-exhaustive):

    • Severe weather that creates unsafe driving conditions;

    • Personal emergencies.​​​

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Early Termination

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• Participant will provide Peak with 3-months notice of the need to terminate the lease early, due to any reason, including inability to follow Program Rules, changing jobs, etc.

  • Participant and Peak will work to re-assign the Lease to a different eligible Participant during that 3-month period;

  • Participant must pre-pay the Lease for those 3 months.

• Participant Feedback

  • Peak will endeavour to limit the time burden on Participant while also ensuring valuable feedback is incorporated into product design through:

    • Surveys, focus groups, individual interviews, etc.;

    • Media-related interviews, pictures, only with Participant consent.

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Program Costs

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• The current program lease rates are:

  • $575/month for the SV Plus

  • $636/month for the SL

• Prices are subject to change as program proceeds in 2020

• Each Participant must pay a monthly vehicle lease payment for a 3-year Term, the current market lease rate less the Peak Drive Energy Savings Rebate

• Each Participant will be responsible for charging at home to meet personal needs;

• All costs associated with leasing the vehicle, including automobile insurance and regular maintenance

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