Methodology to Economic Evaluation of an Electric Vehicle Parking Lot Equipped with PV and Storage

Abstract

There is a massive rollout of EVs to decarbonize the transport sector. Charging infrastructure is needed to enable that transition. Understanding the feasibility of the Electric Vehicles Parking Lots (EVPL) with and without additional technologies (i.e.: photovoltaic generation, batteries) is needed to make informed decisions considering its impact in the distribution network and also the market valuation in both short and long term planning. This paper proposes a methodology to perform an economic assessment of an EVPL equipped with photovoltaic generation, batteries, and EV chargers. The economic analysis is performed considering a long term operation of EVPL and also the adoption of different policies that impact the growth of EV penetration level. Thus, Net Present Value (NPV) and the Internal Rate of Return (IRR) are calculated to a set of different scenarios in order to obtain the best configuration in each case. Thus, it was verified that EVPL operation profitability is considerably affected by government policies and regulations. Moreover, the investment in batteries is of great importance to achieve some profit, while the PV generation in those models requires a large amount of investment but may favor higher returns.