Techno-Economic Feasibility of EV Charging Station Deployment in Residential Buildings: A Condominium Case Study in Bangkok

Abstract

The rapid growth of electric vehicle (EV) adoption in Thailand has increased demand for charging infrastructure, particularly at high-density residential buildings with parking and electrical-capacity constraints. This study evaluates the techno-economic feasibility of installing two 60 kW DC chargers and two 22 kW AC chargers at a condominium in Bangkok, with an initial investment of THB 1,990,500 excluding VAT. The assessment integrates project quotations, site-specific electrical designs, charger specifications, and scenario-based financial modeling. Technical feasibility was assessed based on installation requirements, electrical compatibility, and safety provisions, while economic feasibility was evaluated using net present value (NPV), internal rate of return (IRR), and simple payback period (PB). The proposed configuration satisfied the specified technical requirements. Three utilization scenarios considered DC charging for 4–6 h/day and AC charging for 10–14 h/day. Electricity costs were modeled at THB 4.50/kWh, with additional increases of 2.5% and 5% and corresponding adjustments to charging prices. A 10-year project lifetime and a 5.5% discount rate were assumed. The results showed NPVs ranging from THB 382,947.62 to THB 3,527,186.83, IRRs from 9.34% to 34.94%, and PBs from 2.72 to 6.32 years. The best-performing scenario, with DC and AC utilization of 6 and 14 h/day, respectively, achieved an NPV of THB 3,527,186.83, an IRR of 34.94%, and a PB of 2.72 years. Charger utilization, particularly DC utilization, was a key determinant of economic viability. Mixed AC/DC charging infrastructure may therefore be economically attractive under the modeled conditions, although the utilization assumptions were not validated using long-term measured charging-demand data.