Electric Avenue: Two Case Studies on the Economic Feasibility of the Electrification of Transportation (Solar Charging Stations in CA & University Buses in NC)

2 ACKNOWLEDGEMENTS 3 INTRODUCTION 5 Approach: Bottom-Up Financial Models 6 Purpose of Solar Charging FFM and University Bus FFM 8 Intended Audience 9 BACKGROUND 11 Origins of the FFMs 11 Charging Station Technology Synopsis 12 Solar Photovoltaic Technology Synopsis 13 METHODS 15 Methodology for Solar Charging FFM 16 Methodology for University Bus FFM 19 FINANCIAL FEASIBILITY MODELS (FFMs) 25 Financial Feasibility Model for Solar Charging Stations for PHEVs and EVs 25 CA Petroleum Prices Projections 25 CA Electric Price Projections 26 Greenhouse Gas (GHG) Emissions Projections 27 Solar|Charging Station Costs 29 NPV|Output Calculations / NPV|Output Calculations (+Loan) 29 Financial Feasibility Model (Output) 30 Financial Feasibility Model for Diesel-Hybrid and Electric Buses 31 South Atlantic Gas Prices 31 SERC Electric Prices 31 SERC GHG Emissions Projections 32 Buses|Charging Equipment Costs 33 NPV|Output Calculations / NPV|Output Calculations (+Loan) 33 Financial Feasibility Model (Output) 33 RESULTS 35 Results for FFM for Solar Charging Stations for PHEVs and EVs 35 Results for FFM for Diesel-Hybrid and Electric Buses 37 CONCLUSION 39 APPENDIX 43