Publication: Evaluating the Financial Dynamics of Electric Vehicle Charging Stations in Thailand: Implications of Energy Cost Variability
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Issued Date
2025-01-01
Resource Type
eISSN
21693536
Scopus ID
2-s2.0-85218784647
Journal Title
IEEE Access
Volume
13
Start Page
33985
End Page
33994
Rights Holder(s)
SCOPUS
Bibliographic Citation
IEEE Access Vol.13 (2025) , 33985-33994
Suggested Citation
Chiradeja P., Sottiyaphai C., Ananwattanaporn S., Ngaopitakkul A. Evaluating the Financial Dynamics of Electric Vehicle Charging Stations in Thailand: Implications of Energy Cost Variability. IEEE Access Vol.13 (2025) , 33985-33994. 33994. doi:10.1109/ACCESS.2025.3544079 Retrieved from: https://hdl.handle.net/20.500.14740/20693
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Abstract
This study examines the financial impact of energy costs on electric vehicle charging stations by comparing financial models with fixed and variable energy pricing structures. Through an in-depth financial simulation, key metrics such as Internal Rate of Return, Net Present Value, and payback period were calculated to evaluate the profitability and risk associated with each model. Findings reveal that charging stations with fixed energy costs generally experience a higher Internal Rate of Return at 14.55% and a Net Present Value of 1,711,781, with a payback period of four years. In comparison, stations with variable energy costs exhibit a lower Internal Rate of Return at 7.28% and a Net Present Value of 1,347,781, although the payback period remains consistent at four years. These results demonstrate that fixed energy costs enhance investment predictability and profitability, while variable costs increase exposure to energy price fluctuations, which raises financial risk but may capture greater returns under favorable market conditions. The analysis highlights the critical importance of accounting for energy cost variability in financial planning to maintain sustainable, profitable operations. This research provides essential insights for investors and policymakers to optimize electric vehicle charging infrastructure investments, supporting effective and profitable operations.