New York City-based startup, It's Electric, plans to install hundreds of EV chargers throughout Philadelphia and pay property owners to power them. The 10-year contract would allow the company to install 500 chargers over the first five years, with an option to add another 500. Depending on legislative approval and grant funding, the company expects to begin installation in the first three months of next year. The contract comes at no cost to the city, with a 12% cut of annual profits from the EV charger. To fuel the company's network, It’s Electric will seek agreements to tap into power from businesses, schools, libraries and homes. The chargers, which include a single port, can be charged via an app or tap-to-pay.