Micro-Analysis of the Fueling Costs of Electric Vehicles in Consideration of the Range of Options Available to Electric Vehicle Users

Abstract

It is common knowledge that the costs of powering electric vehicles (EV) are less than the fuelling costs of internal combustion engine vehicles (ICEV) due to the relative per-unit prices of electricity and gasoline, respectively, which enhances the consumer acceptance of electromobility as a viable alternative to ICEV usage. However, whilst ICEV users do not have a choice regarding how to fuel their vehicles since they must make use of fuelling stations, EV users have a number of options with respect to where, when, and how to recharge their vehicle batteries. This paper presents a micro-analysis of the costs associated with the various choices available to EV users and the effects of these differing methods on the overall costs of running EVs. Comparisons are made to fuelling costs of ICEVs, wherein the potential effects of rising gasoline prices are estimated. Whilst the cost analysis is primarily conducted within an Irish context, fuelling costs in additional countries are also considered. The results show that the choices EV users make with respect to how to charge their vehicles have a large impact on the fuelling costs of EVs. Substantial savings can be accrued by EV users through their selection of charging method. It is recommended that the fuelling costs of EVs and comparisons to ICEV costs should be publicised to expand consumer awareness.