Cost-Benefit Analysis of Solar PV Powered EV Charging Station: A Case Study in Nepal

In the current scenario, Nepal is witnessing significant growth in the use of electric vehicles (EVs) due to their rising popularity based on their techno-environmental benefits and the declining reliance on fossil fuels. However, the present charging station infrastructure has restricted the suppliers from fulfilling their demand by purchasing power only from the national grid, leading to a high rate of charging tariffs. This study proposes an integrated charging approach that primarily considers distributed power generation facilities, such as solar PV, combined with energy storage systems to reduce dependency on the national grid and further reduce the charging tariffs. The proposed framework focuses on decreasing the EV charging cost by utilizing remotely located renewable energy resources or on-site distributed energy resources. A cost-benefit analysis (CBA) is performed to determine the financial viability of the proposed approach by considering a 1 MWp solar PV plant located at a distant place from the EV charging stations (EVCS) and an energy storage system of 160 kWh installed at the EVCS. The national grid of Nepal has been considered for energy exchange between remotely located energy resources and EVCS. This practical case study considers actual data from the solar PV plant owned by API Power Company Ltd, Nepal, and the EV charging demand of Sundar Traders Pvt Ltd, Nepal, which provides fast EV charging services to private and public-owned EVs. The results obtained from this analysis demonstrate a minimal increase in the payback period of less than a year but with a reduction of EV charging costs by Nepalese Rupee NPR 3/kWh on adopting the integrated approach, along with improved utilization of grid resources and decreased greenhouse gas emissions.