Assessing levelized cost of electric vehicle recharging in China

Authors: Chon Man Tam, I-Yun Lisa Hsieh, Xin Sun

Journal: iScience

Abstract

Electric vehicle (EV) purchasing decisions are significantly influenced by costs. Focusing on China, this research comprehensively examines the levelized costs of EV recharging (including charging and swapping) at the provincial level considering various factors, including charging locations, time of charging, and power levels. Results indicate that the national average EV charging costs, with and without home chargers, amount to 0.973 RMB/kWh and 1.148 RMB/kWh, respectively. Remarkable variations are observed among provinces, with Xinjiang and Shanghai experiencing the lowest and highest levelized cost of EV charging (LCOC), respectively, with disparities of up to 147.26%, primarily attributed to regional discrepancies in electricity prices and vehicle usage intensity. Despite generous capital subsidies, swapping costs remain considerably higher than charging, ranging from 3.780 RMB/kWh to 4.082 RMB/kWh. Additionally, the sensitivity analysis of major parameters, including infrastructure utilization, suggests that levelized EV recharging costs are already more cost-attractive than the fuel costs of comparable gasoline cars at today’s utilization rates.

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