Assessing the feasibility and implications of electric vehicle adoption in the modern era : a risk feasibility study on infrastructure and cost effectiveness in Malta

Abstract

The world's shift to electric vehicles (EVs) has quickened as worries about carbon emissions and environmental sustainability have grown. Small island nations like Malta, however, have particular difficulties implementing this technology because of infrastructure constraints and financial concerns. Through a thorough risk feasibility evaluation, this study examines the viability of broad EV adoption in Malta with a particular emphasis on cost-effectiveness and infrastructure readiness. The study found a number of infrastructure issues, including a lack of public charging stations, restrictions on at-home charging alternatives, and worries about Malta's energy grid's ability to handle an increasing number of EVs. Wider adoption is still hampered by high upfront prices and uncertainties surrounding battery replacement and residual value, even though Malta has introduced government incentives targeted at lowering the financial burden for consumers. It has been discovered that EVs' TCO can save money over time on fuel and maintenance, but consumers aren't always aware of these advantages. Understanding the financial and infrastructural obstacles to EV adoption is essential as Malta strives to meet the climate goals of the European Union and shift to more environmentally friendly modes of transportation. The research utilises interviews with significant players, such as industry professionals, to obtain comprehensive understanding of the present condition of Malta's electric vehicle ecosystem. This study emphasises the necessity of stronger government regulations and incentives to promote the adoption of EVs as well as the significance of public awareness initiatives to change consumer attitudes. The thesis also emphasises how urgent it is to close infrastructure gaps by investing in renewable energy integration and forming public-private partnerships.