Financial Analysis of Electric Vehicle Fast Charging Stations: A Case Study in San Diego California

In this study, the authors evaluate the financial viability of high power (125 and 400 kW) electric vehicle fast charging station services and identify capital and operational cost mitigation actions for their financial success. The financial analysis focuses on a San Diego California (CA) case study. The region has its own utility company and expected substantial electric vehicle ownership numbers, for the analysis years 2018-2025. Data from existing literature on charging infrastructure capital costs, utility-based electric vehicle charging rates, and CA-specific land and other costs serve as financial analysis inputs. Several scenarios are developed by varying the number of charging ports per station, charging power, as well as collocation of different energy storage sizes and photovoltaic arrays on the station’s site. The fast charging site selection is conducted after evaluating several land use and electricity grid criteria. Demand for electric vehicle charging over the analysis period enables estimation of the levelized cost of electricity that a charging service provider incurs annually. All the above data serve as inputs of the financial analysis tool: National Renewable Energy Laboratory’s Electric Infrastructure Financial Analysis Tool (EFAST). Results show that station and energy use are crucial for charging site sizing and its financial viability. Energy storage and photovoltaics collocation can lead to higher profitability indices and internal rates of return, and under certain charging utilization levels worth the significant capital investment. Break-even electricity prices for the scenarios examined vary from 35 to 50 cents per kWh.

  • Supplemental Notes:
    • This paper was sponsored by TRB committee ADC80 Standing Committee on Alternative Transportation Fuels and Technologies.
  • Corporate Authors:

    Transportation Research Board

    ,    
  • Authors:
    • Kontou, Eleftheria
    • Bedir, Kadir
    • Wood, Eric
  • Conference:
  • Date: 2019

Language

  • English

Media Info

  • Media Type: Digital/other
  • Features: Figures; References; Tables;
  • Pagination: 6p

Subject/Index Terms

Filing Info

  • Accession Number: 01698157
  • Record Type: Publication
  • Report/Paper Numbers: 19-05251
  • Files: TRIS, TRB, ATRI
  • Created Date: Dec 7 2018 9:47AM