Abstract
To date, real cost data for Electric Vehicle (EV) rapid charging infrastructure is largely missing in the literature, preventing development of economic models to encourage private investment and limiting policy decisions. A business model has been constructed using actual capital expenditure, operating costs and usage data from the Rapid Charge Network project (RCN) which can be used to assist future investment and policy decisions. The model is run under a wide spectrum of EV uptake scenarios to provide plausible answers to a variety of research, policy and investment questions, including minimum growth rates to break even under current policy. Using real-world data we have confirmed that a financial business opportunity does exist for investment in rapid chargers on main highways and have identified the operating area in which a profit can be made. However, since UK EV adoption is still at the Innovators stage in a niche market where innovations in technology, user practices, supporting infrastructure and functionality are still required to achieve wide user acceptance, the case is also made for continued fiscal incentives to encourage investment in rapid-charging infrastructure.
Highlights
Transport is a major source of greenhouse gas emissions which cause global climate change
The two main parameters which determine the strength of the investment decision are the electricity re-sale price and the volume of energy expected to be sold at the Electric Vehicle Supply Equipment (EVSE)
Using real world data we have concluded that investment in EVSE rapid chargers providing Mode 3 and 4 conductive charging services on main highways is viable, and we have identified the operating area in which a profit can be made by Electro-mobility Service Provider (EMSP)
Summary
Transport is a major source of greenhouse gas emissions which cause global climate change. UK ULEV sales continue to grow significantly, showing an 89% increase between 2014 and 2015, and the percentage of new car registrations rose from 0.2% in 2013 to 1% by 2015 (Department for Transport, 14 April, 2016). This is lower than in other countries which have been more successful in encouraging ULEV uptake, such as Norway at 18% and the Netherlands at almost 8% (ACEA, 2015). A significant increase in growth is still required to meet the UK Committee on Climate Change's (CCC) target in which ULEV market share reaches 60% by 2030 to enable the UK to meet its legally binding target for greenhouse gas reduction
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