Economic Feasibility of Hybrid Solar-Powered Charging Station with Battery Energy Storage System in Thailand

Phimsupha Kokchang, Naris Chattranont, Tanit Menaneatra, Nipawat Phetriang, Chutimon Lertmanokul, Nantiporn Nateprapai, Surachai Chaitusaney, Surapad Larbwisuthisaroj and Sunt Srianthumrong
Additional contact information
Phimsupha Kokchang: Energy Research Institute, Chulalongkorn University, 12th Floor, Institute Building III, Pathumwan, Bangkok 10330, Thailand,
Naris Chattranont: Metropolitan Electricity Authority, Watthanawipat Building, Klong Toei, Bangkok 10110, Thailand,
Tanit Menaneatra: Metropolitan Electricity Authority, Watthanawipat Building, Klong Toei, Bangkok 10110, Thailand,
Nipawat Phetriang: Metropolitan Electricity Authority, Watthanawipat Building, Klong Toei, Bangkok 10110, Thailand,
Chutimon Lertmanokul: Metropolitan Electricity Authority, Watthanawipat Building, Klong Toei, Bangkok 10110, Thailand,
Nantiporn Nateprapai: Metropolitan Electricity Authority, Watthanawipat Building, Klong Toei, Bangkok 10110, Thailand,
Surachai Chaitusaney: Department of Electrical Engineering, Chulalongkorn University, Pathumwan, Bangkok 10330, Thailand,
Surapad Larbwisuthisaroj: Department of Electrical Engineering, Chulalongkorn University, Pathumwan, Bangkok 10330, Thailand,
Sunt Srianthumrong: Greenergy (Thailand) Co. Ltd, Muang Thai Phatra Complex Building Tower B, 19th Floor, Huai Kwang, Bangkok, 10310 Thailand.

International Journal of Energy Economics and Policy, 2023, vol. 13, issue 3, 342-355

Abstract: Developing a public charging infrastructure is essential for the promotion of electric cars (EVs), especially in developing countries. The use of renewable energy sources (RESs), especially solar and the replacement of fossil fuels in EV charging stations has the potential to improve economic efficiency while significantly lowering greenhouse gas emissions and improving urban air quality. Therefore, the purpose of this paper is to investigate the economic feasibility of a hybrid solar photovoltaic (PV) and battery energy storage system (BESS) for environmentally friendly EV charging stations in a university campus under different EV charger utilization rates, electricity costs, and charging types. The results showed that installing a level 2 solar PV charging station at the current subsidized rate provides the most economic benefits, while installing BESS for peak shaving is the least profitable due to the high cost. The sensitivity analysis also revealed that if the cost of the BESS decreases, the IRR of the project will increase. This study aims to promote the development of technologically and environmentally feasible EV charging stations powered by RESs.

Keywords: Electric Vehicle; Electric Vehicle Charging Stations; Clean Energy Supply; Solar energy; Hybrid Energy System (search for similar items in EconPapers)
JEL-codes: G0 M2 Q4 (search for similar items in EconPapers)
Date: 2023
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