Analysis of the Financial Viability of High-Powered Electric Roadways: A Case Study for the State of Indiana

Electric roadways (ERs) represent a new paradigm for electrified transportation that is enabled by the emerging technology of dynamic (in-motion) wireless power transfer to electric vehicles (EVs). This kind of ubiquitous charging capability alleviates range anxiety, and can thus stimulate the adoption of EVs. However, large-scale deployment of ERs is challenging due to its high capital cost and resource-intensive nature. This paper presents a detailed analytical framework for the techno-economic assessment of planned ER projects. The methodology is illustrated using an early adoption case study on Interstate 65 in Indiana, USA. Multiple financial feasibility and risk analyses of various ER designs and implementation scenarios are conducted. The overall financial viability of the ER project is evaluated using the levelized cost of the electric roadway and its net present value. The results indicate that the EV penetration level, and especially that of heavier-duty long-haul EVs, has the greatest impact on financial viability, which suggests the critical role of sustained policies that would help accelerate adoption of this technology. The results are also supportive of developing “green” ERs, wherever synergies between renewable energy sources and traffic corridors can be exploited to co-develop solar and wind power plants with ERs.