Hive Power and Iveco Bus Case Study: Reducing Total Cost of Ownership through FLEXO Smart Charging

Introduction

In the shift towards sustainable transportation, electric buses are becoming increasingly viable alternatives to diesel-powered vehicles. While the initial purchase cost of an electric vehicle is higher, the total cost of ownership (TCO) over 15 years can align closely with that of diesel vehicles due to the lower cost of electric recharging. By 2030, battery electric vehicles (BEVs) are expected to have a lower TCO than diesel vehicles, revolutionising the heavy-duty vehicle (HDV) market. Hive Power's FLEXO smart charging solution further reduces these costs, offering savings of 20 to 50% by optimising recharging flexibility.

‍

The Challenge

‍The transition from diesel to electric heavy-duty vehicles (HDVs) is often hindered by the high initial purchase costs. Many potential users are unaware that smart charging techniques can significantly reduce the overall cost. Smart charging optimises recharging schedules to fit within dynamic tariff schemes, turning potential cost challenges into savings opportunities without compromising vehicle availability.

‍

The Solution: FLEXO Smart Charging

Hive Power’s FLEXO platform offers an integrated solution for smart charging, optimising energy use based on market prices and PV energy availability. FLEXO connects electric vehicles (EVs) to the grid and buildings, enabling efficient power and data exchange.

‍

A simulation study conducted by Hive Power with IVECO buses demonstrated significant savings through smart charging. Using FLEXO’s algorithms, the study identified savings of 17% to 35% for night charging e-buses with V1G technology alone, and up to 57% with vehicle-to-grid (V2G) enabled buses. This optimisation does not require changes in user behaviour and ensures reduced charging costs.

‍

Best Practices

For widespread adoption of smart charging in HDVs, manufacturers need to enable cloud-based systems to modulate battery charging. This compatibility allows for integrated smart charging solutions powered by FLEXO across various charging infrastructures. Retailers and leasers can then offer these solutions, reducing user costs and enabling participation in energy markets through demand response services and incentives.

‍

The Impact

‍By integrating FLEXO’s smart charging technology, HDV owners can maximise savings through multiple value streams. The AI-driven FLEXO platform helps manage energy usage efficiently, ensuring cost-effectiveness while promoting the integration of renewable energy.ConclusionHive Power's collaboration with IVECO buses highlights the transformative potential of smart charging in reducing the total cost of ownership for electric HDVs. By leveraging FLEXO’s advanced capabilities, HDV owners can achieve significant cost savings, support CO2 emission reduction targets, and enhance the integration of renewable energy into the grid. This case study showcases how smart charging is not only a cost-saving measure but a crucial step towards a more sustainable and efficient energy future.