The ‘hidden costs’ of electric-vehicle charging
E-mobility has reached a tipping point. By 2030 as many as 130 million EVs will be on roads. During the next two years, more than 250 new models of battery electric vehicles (BEV) will be introduced. To support this rapid growth, significant expansion in charging is required—this will not be cheap. In fact, an estimated $110 billion to $180 billion must be invested from 2020 to 2030 to satisfy global demand for EV charging stations.
Major hidden costs are:
1. The costs of setting up charging stations, Electric-grid upgrades, software network and related maintenance far exceed the hardware cost of the charger unit alone.
2. The largest hidden cost is often the electricity itself. Peak demand charges, which are based on increments of time when power use is at its highest, can be significant.
Solar integrated PV can foster the transition of smart cities, support the progress of fleet electrification as well as reduce vehicle owner's operating costs.