Techno-Economic Analysis and Feasibility Studies of Electric Vehicle Charging Station
Recent United Nations high-level dialogue on energy, which had emphasized on energy usage and environmental protection, has renewed commitments by different countries on the adoption of electric vehicle (EVs). This paper aims to analyze the economic feasibility of establishing electrical charging st...
| Main Authors: | , , |
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| Format: | Article |
| Language: | English |
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MDPI AG
2021-12-01
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| Series: | World Electric Vehicle Journal |
| Subjects: | |
| Online Access: | https://www.mdpi.com/2032-6653/12/4/264 |
| _version_ | 1827668928989495296 |
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| author | Muhammad Danial Fatin Amanina Azis Pg Emeroylariffion Abas |
| author_facet | Muhammad Danial Fatin Amanina Azis Pg Emeroylariffion Abas |
| author_sort | Muhammad Danial |
| collection | DOAJ |
| description | Recent United Nations high-level dialogue on energy, which had emphasized on energy usage and environmental protection, has renewed commitments by different countries on the adoption of electric vehicle (EVs). This paper aims to analyze the economic feasibility of establishing electrical charging stations, which is an important factor for the wide adoption of EVs, using life cycle cost analysis. Although local data have been used, the method can be easily adopted to analyze economic feasibility at different markets. The findings have revealed that an electrical charging station is only feasible when the acquisition cost is kept to a minimum to return 1.47 times the initial investment in terms of life cycle cost. An acquisition cost of BND 29,725 on the electrical charging station represents the threshold below which an electrical charging station is more attractive. In order to promote these charging stations, the government needs to provide multiple incentives, including a subsidy to reduce the acquisition cost, relaxing control on the electric selling price, taxing the establishment of conventional filling stations, and minimally reducing the profit margin on the selling price of fossil fuel. It has been shown that a 40% initial subsidy on the purchase of electrical charging stations, coupled with a slight subsidy of BND 0.018/kWh on electricity, would make electrical charging stations economically competitive. To reach its target of 60% electrification of the transportation sector, Brunei would need to implement a structure program to establish between 646 and 3300 electrical charging stations by the year 2035, to cater for its expected number of EVs. |
| first_indexed | 2024-03-10T03:52:25Z |
| format | Article |
| id | doaj.art-a5042915ff864901a0a5eeb7343ae365 |
| institution | Directory Open Access Journal |
| issn | 2032-6653 |
| language | English |
| last_indexed | 2024-03-10T03:52:25Z |
| publishDate | 2021-12-01 |
| publisher | MDPI AG |
| record_format | Article |
| series | World Electric Vehicle Journal |
| spelling | doaj.art-a5042915ff864901a0a5eeb7343ae3652023-11-23T11:03:58ZengMDPI AGWorld Electric Vehicle Journal2032-66532021-12-0112426410.3390/wevj12040264Techno-Economic Analysis and Feasibility Studies of Electric Vehicle Charging StationMuhammad Danial0Fatin Amanina Azis1Pg Emeroylariffion Abas2Faculty of Integrated Technologies, Universiti Brunei Darussalam, Jalan Tungku Link BE1410, BruneiFaculty of Integrated Technologies, Universiti Brunei Darussalam, Jalan Tungku Link BE1410, BruneiFaculty of Integrated Technologies, Universiti Brunei Darussalam, Jalan Tungku Link BE1410, BruneiRecent United Nations high-level dialogue on energy, which had emphasized on energy usage and environmental protection, has renewed commitments by different countries on the adoption of electric vehicle (EVs). This paper aims to analyze the economic feasibility of establishing electrical charging stations, which is an important factor for the wide adoption of EVs, using life cycle cost analysis. Although local data have been used, the method can be easily adopted to analyze economic feasibility at different markets. The findings have revealed that an electrical charging station is only feasible when the acquisition cost is kept to a minimum to return 1.47 times the initial investment in terms of life cycle cost. An acquisition cost of BND 29,725 on the electrical charging station represents the threshold below which an electrical charging station is more attractive. In order to promote these charging stations, the government needs to provide multiple incentives, including a subsidy to reduce the acquisition cost, relaxing control on the electric selling price, taxing the establishment of conventional filling stations, and minimally reducing the profit margin on the selling price of fossil fuel. It has been shown that a 40% initial subsidy on the purchase of electrical charging stations, coupled with a slight subsidy of BND 0.018/kWh on electricity, would make electrical charging stations economically competitive. To reach its target of 60% electrification of the transportation sector, Brunei would need to implement a structure program to establish between 646 and 3300 electrical charging stations by the year 2035, to cater for its expected number of EVs.https://www.mdpi.com/2032-6653/12/4/264electric vehicleelectrical charging stationelectrical charging infrastructurelife cycle cost analysiseconomic feasibilitytechno-economic feasibility |
| spellingShingle | Muhammad Danial Fatin Amanina Azis Pg Emeroylariffion Abas Techno-Economic Analysis and Feasibility Studies of Electric Vehicle Charging Station World Electric Vehicle Journal electric vehicle electrical charging station electrical charging infrastructure life cycle cost analysis economic feasibility techno-economic feasibility |
| title | Techno-Economic Analysis and Feasibility Studies of Electric Vehicle Charging Station |
| title_full | Techno-Economic Analysis and Feasibility Studies of Electric Vehicle Charging Station |
| title_fullStr | Techno-Economic Analysis and Feasibility Studies of Electric Vehicle Charging Station |
| title_full_unstemmed | Techno-Economic Analysis and Feasibility Studies of Electric Vehicle Charging Station |
| title_short | Techno-Economic Analysis and Feasibility Studies of Electric Vehicle Charging Station |
| title_sort | techno economic analysis and feasibility studies of electric vehicle charging station |
| topic | electric vehicle electrical charging station electrical charging infrastructure life cycle cost analysis economic feasibility techno-economic feasibility |
| url | https://www.mdpi.com/2032-6653/12/4/264 |
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