Profitability and Environmental Benefit of Providing Renewable Energy for Electric Vehicle Charging

abstract: This study evaluates the potential profitability and environmental benefit available by providing renewable energy from solar- or wind-generated sources to electric vehicle drivers at public charging stations, also known as electric vehicle service equipment (EVSE), in the U.S. Past studies have shown above-average interest in renewable energy by drivers of plug-in electric vehicles (PEVs), though no study has evaluated the profitability and environmental benefit of selling renewable energy to PEV drivers at public EVSE. Through an online survey of 203 U.S.-wide PEV owners and lessees, information was collected on (1) current PEV and EVSE usage, (2) potential willingness to pay (WTP) for upgrading their charge event to renewable energy, and (3) usage of public EVSE if renewable energy was offered. The choice experiment survey method was used to avoid bias known to occur when directly asking for WTP. Sixty percent of the participants purchased their PEVs due to environmental concerns. The survey results indicate a 506% increase in the usage of public pay-per-use EVSE if renewable energy was offered and a mean WTP to upgrade to renewable energy of $0.61 per hour for alternating current (AC) Level 2 EVSE and $1.82 for Direct Current (DC) Fast Chargers (DCFC). Based on data from the 2013 second quarter (2Q) report of The EV Project, which uses the Blink public EVSE network, this usage translates directly to an annual gross income increase of 668% from the original $1.45 million to $11.1 million. Blink would see an annual cost of $16,005 per year for the acquisition of the required renewable energy as renewable energy credits (RECs). Excluding any profit seen purely from the raise in usage, $3.8 million in profits would be gained directly from the sale of renewable energy. Relative to a gasoline-powered internal combustion engine passenger vehicle, greenhouse gas (GHG) emissions are 42% less for the U.S. average blend grid electricity-powered electric vehicle and 99.997% less when wind energy is used. Powering all Blink network charge events with wind energy would reduce the annualized 2Q 2013 GHG emissions of 1,589 metric tons CO2 / yr to 125 kg CO2 / yr, which is the equivalent of removing 334 average U.S. gasoline passenger cars from the road. At the increased usage, 8,031 metric tons CO2 / yr would be prevented per year or the equivalent of the elimination of 1,691 average U.S. passenger cars. These economic and environmental benefits will increase as PEV ownership increases over time.Dissertation/ThesisMasters Thesis Technology 201