Application of Crowdfunding on the Financing of EV's Charging Piles

The market penetration of electric vehicle is subject to the capacity of charging facility greatly, however the development of charging facility is influenced by the economic incentives. In this study, the crowdfunding method is applied for financing the construction of electric vehicle (EV) charging piles, and its advantages was focused and proved. A three-stage sequential game model was developed considering power grid, infrastructure operators and crowdfunders to analyze the performance of crowdfunding in charging pile construction. The result shows that crowdfunding can increase charging piles construction amount by 70% and crowdfunding's promoting effect equals the effect of supplying 40% subsidy for construction fee. Thus crowdfunding is a simple but efficient way to boost the penetration of charging piles.