Analysing the cost-effectiveness of charging stations for electric vehicles in the UK's rural areas

Abstract

While U.K. authorities have attempted to tailor measures to boost sales of electric vehicles (EVs) and support citizens through different schemes, the size and geographic coverage of the existing charging network are insufficient, which undermines electromobility promotion. There are 15,853 public charging points installed in the U.K. as of 3 August 2021, and the demands for public EV charging are rising. For rural areas, there is little support from local authorities or private companies. To identify how a charging station can be installed and work, this study researches existing charging stations nationwide. Generally, most Public Charging Stations (PCS) in rural areas have unsatisfactory cost-effectiveness due to their long payback period. This paper presents how many rural PCS are able to afford the cost in the first eight years. Based on the ever-increasing demands of the market, EV producers are switching their business strategies. Meanwhile, the rural areas may become urban with the same definition. When it comes to the analysis of cost-effectiveness, it is possible for the PCS to bring more elements into the calculation. For Capital Expenditure (CAPEX) and Operation Expenditure (OPEX), the unnecessary cost leaves more profit space, like the possibility of unplanned maintenance costs.