Comparing the levelized cost of electric vehicle charging options in Europe

Abstract

With rapidly decreasing purchase prices of electric vehicles, charging costs are becoming ever more important for the diffusion of electric vehicles as required to decarbonize transport. However, the costs of charging electric vehicles in Europe are largely unknown. Here we develop a systematic classification of charging options, gather extensive market data on equipment cost, and employ a levelized cost approach to model charging costs in 30 European countries (European Union 27, Great Britain, Norway, Switzerland) and for 13 different charging options for private passenger transport. The findings demonstrate a large variance of charging costs across countries and charging options, suggesting different policy options to reduce charging costs. A specific analysis on the impacts and relevance of publicly accessible charging station utilization is performed. The results reveal charging costs at these stations to be competitive with fuel costs at typical utilization rates exhibited already today.