Analysis and Case Study of National Economic Evaluation of Expressway Dynamic Wireless Charging

Abstract

As the transportation industry develops new forms of energy and electrification, expressway dynamic wireless charging has become an attractive technology that has the potential to completely solve a range of anxieties associated with electric vehicles. The main objective of this paper was to analyze the economic feasibility of dynamic wireless charging projects on highways. First, the roadside cost of dynamic wireless charging was estimated in terms of equipment, construction, and maintenance costs. Then, various indicators of the national economy of expressway dynamic wireless charging were analyzed. Finally, using the GM (1,1) model, a prediction model for evaluating the associated economic benefits is proposed in this study. As a case study, a national economic evaluation of retrofitting a dynamic wireless charging infrastructure on the Guiyang to Xinzhai Expressway was calculated with the following results: the economic internal rate of return (EIRR) is 11.27% to 29.11%, the economic net present value (ENPV) is 321.59 million RMB to 733.51 million RMB, the economic benefit to cost ratio (EBCR) is 1.02 to 1.32, and the payback period is 3.15 years to 6.35 years. All indicators are higher than the benchmark value for the national economic evaluation, and the sensitivity analysis results are also higher than the benchmark. The results of this paper show that the project is economically feasible and has certain economic benefits. From the perspective of economic benefits, it is necessary to provide more effective information for investors and decision-makers to build dynamic wireless charging highway projects.