A recent study published in “Solar Compass” highlights the economic viability and environmental benefits of solar-powered electric vehicle (EV) charging stations in Gazipur, Bangladesh. With the increasing demand for electric vehicles, particularly auto-rickshaws and easy bikes, the need for sustainable energy solutions is becoming more pressing. The research, led by M. Naem Hossain from the Department of Technical and Vocational Education at the Islamic University of Technology, emphasizes the potential of solar energy in addressing both transportation needs and environmental concerns.
The study reveals that a solar-based EV charging station can generate approximately 36,785.76 MWh of electricity over its 20-year lifespan. This energy is sufficient to charge around 250 battery-operated three-wheeler EVs daily, showcasing a practical application of renewable energy in urban transportation. The financial analysis of the project indicates a net present value (NPV) of USD 652,656.80, with an initial investment of USD 1,365,300. The internal rate of return (IRR) is calculated at 11.70%, and the payback period is estimated to be 7.2 years. These figures suggest that investing in solar-powered charging infrastructure is not only environmentally friendly but also economically sound.
Hossain points out the significant environmental impact of this initiative, stating, “The project will prevent the emission of 24,013.86 tons of CO2, 251.25 tons of SO2, 63.39 tons of NOx, and 12.55 tons of CO.” By reducing greenhouse gas emissions, this solar charging station aligns with Bangladesh’s commitment to achieving Sustainable Development Goal 7, which aims to ensure access to affordable, reliable, sustainable, and modern energy for all by 2030, as well as contributing to SDG 13 on climate action.
The commercial implications of this research are substantial. As the market for electric vehicles expands in Bangladesh, the demand for charging infrastructure will grow correspondingly. This presents opportunities for businesses involved in renewable energy, electric vehicle manufacturing, and urban planning. Companies that invest in solar technology and EV infrastructure could benefit from both government incentives and a growing consumer base seeking sustainable transportation options.
Overall, this study underscores the dual advantage of solar-powered EV charging stations: they provide a clean energy solution while also offering a viable business model. As Bangladesh continues to modernize its transportation sector, initiatives like the one led by Hossain could play a crucial role in fostering a greener, more sustainable future.
