Assessment of the Carbon Credit Potential of An Electric Vehicle Charging Station

Abstract

In this study, we evaluated the carbon credit potential of an electric vehicle charging station (EVCS) in Pune, Maharashtra, India, focusing on the Shell Recharge Charging Station located in Pimple Nilakh. The objective was to understand whether carbon credits could incentivize the establishment of EVCSs. We conducted the calculations using the Verified Carbon Standard (VCS) Methodology VM0038 for Electric Vehicle Charging Systems, Version 1.0. Our analysis reveals that the system can generate approximately 191 carbon credits annually. Depending on the prevailing carbon credit values, these credits translate to a potential monetary value reaching up to ₹ 7,96,947.50 in the Indian voluntary market and up to ₹ 9,92,372.74 in the international compliance market. In the Indian voluntary market, this represents a maximum of nearly 31% additional value over the annual profit generated by the charging station. Consequently, these carbon credits hold promise as a viable tool for accelerating the adoption of green mobility by incentivizing the establishment of electric vehicle charging infrastructure. This assessment highlighted the potential of EVCSs to support sustainable transportation and drive economic benefits through carbon credit monetization. Our research underscored the need to develop standardized practices for the validation and trading of carbon credits generated through green mobility.