Economic and Environmental Analysis of EV Public Fast-Charging Stations Using Renewable Energy

Abstract

Electric vehicles (EVs) are emerging as cost-effective and eco-friendly alternatives to gasoline cars, but widespread adoption still faces hurdles, notably the scarcity of public fast-charging stations. This paper proposes an optimal method to locate and size a fast-charging station in Barcelona, integrating solar photovoltaics (PV) and a battery energy storage system (BESS). The goal is to reduce range anxiety, cut investment costs, and minimize environmental impact. We introduce a modular, scalable station design compatible with second-life batteries and PV panels. Our methodology is twofold: first, determining the optimal charging infrastructure configuration; second, calculating financial viability via net present value (NPV) and internal rate of return (IRR). Results indicate that PV and BESS installation represents the largest cost component, yet energy independence enables rapid capital recovery, with payback in around four years. Selling surplus energy can generate an additional ~4% profit. NPV and IRR values confirm feasibility for scenarios using PV, BESS, or both. Particularly in the highway deployment scenario, combining PV and BESS yields a 72% reduction in greenhouse gas emissions. Overall, our study demonstrates that integrating renewable generation and storage into fast-charging infrastructure in Barcelona is both economically viable and environmentally beneficial.