Abstract
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.
Highlights
Published: 15 December 2021Coupled with a general increase in the standard of living and urbanization, the everincreasing world population has resulted in an overall increase in energy demand, with the energy sector primarily relying on fossil fuel to satisfy these needs
This study analyzes the economic feasibility of providing electric vehicle charging facilities at these locations, and this would be compared against the existing conventional filling stations dotted around the country serving the conventional internal combustion engine vehicles (ICEVs)
A method of calculating and estimating Life cycle cost (LCC) of a public electrical charging station for charging electric vehicles (EVs) has been presented in this paper, and has been used to analyze the economic feasibility of establishing stations by comparing them against conventional filling stations
Summary
Published: 15 December 2021Coupled with a general increase in the standard of living and urbanization, the everincreasing world population has resulted in an overall increase in energy demand, with the energy sector primarily relying on fossil fuel to satisfy these needs. Contamination of water sources, an increase in water levels, and greenhouse effects are some of the environmental problems associated with the burning of fossil fuel for energy purposes. If no meaningful action is taken by all parties, including governments and companies, as well as individuals, exacerbation of the problems would be inevitable, and the world would be set to follow a downward spiral. Many efforts have been made by all parties to reduce and, hopefully, reverse the environmental problems, which have resulted from the prolonged abuse of nature. More than 130 global leaders, including heads of state and leaders of large companies, joined a high-level dialogue to discuss energy access, and the associated environmental problems [2]. Ambitious targets were set, which had Publisher’s Note: MDPI stays neutral with regard to jurisdictional claims in published maps and institutional affiliations
Sign-in/Register to view highlights & summary Sign-in/Register to access full text options 
Free) 
Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
Schedule a call
