EV charging

National EV Charging Station

National EV Charging Station

Country
Sector
Most major industry classification systems use sources of revenue as their basis for classifying companies into specific sectors, subsectors and industries. In order to group like companies based on their sustainability-related risks and opportunities, SASB created the Sustainable Industry Classification System® (SICS®) and the classification of sectors, subsectors and industries in the SDG Investor Platform is based on SICS.
Renewable Resources and Alternative Energy
Sub Sector
Most major industry classification systems use sources of revenue as their basis for classifying companies into specific sectors, subsectors and industries. In order to group like companies based on their sustainability-related risks and opportunities, SASB created the Sustainable Industry Classification System® (SICS®) and the classification of sectors, subsectors and industries in the SDG Investor Platform is based on SICS.
Automobiles
Indicative Return
Describes the rate of growth an investment is expected to generate within the IOA. The indicative return is identified for the IOA by establishing its Internal Rate of Return (IRR), Return of Investment (ROI) or Gross Profit Margin (GPM).
5% - 10% (in IRR)
Investment Timeframe
Describes the time period in which the IOA will pay-back the invested resources. The estimate is based on asset expected lifetime as the IOA will start generating accumulated positive cash-flows.
Medium Term (5–10 years)
Market Size
Describes the value of potential addressable market of the IOA. The market size is identified for the IOA by establishing the value in USD, identifying the Compound Annual Growth Rate (CAGR) or providing a numeric unit critical to the IOA.
174 vehicles per 1,000 people in Belize
Average Ticket Size (USD)
Describes the USD amount for a typical investment required in the IOA.
USD 1 million - USD 10 million
Direct Impact
Describes the primary SDG(s) the IOA addresses.
Sustainable Cities and Communities (SDG 11) Affordable and Clean Energy (SDG 7) Industry, Innovation and Infrastructure (SDG 9)

Business Model Description

Invest in EV charging infrastructure which will allow Belize to reduce its carbon footprint and tap into a growing global trend of automotive electrification. Government will faciliate the development and construction of EV charging infrastructure, with the EV charging stations being privately owned.

Expected Impact

Contributes to cleaner air and reduced carbon emissions that will benefit people and the environment.

How is this information gathered?

Investment opportunities with potential to contribute to sustainable development are based on country-level SDG Investor Maps.

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Country & Regions

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Country
Region
  • National
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Sector Classification

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Sector

Renewable Resources and Alternative Energy

In 2017, there were more than 64,000 private vehicle passengers on Belizean roads per week which is forecasted to double by 2035. Roughly 174 vehicles per 1,000 inhabitants exist and carbon emissions are set to total more than 350,000 metric tons of carbon dioxide per year. Increased CO2 emissions have dangerous environmental trends that can have a disproportionate effect

Sub Sector

Automobiles

It is projected that by 2025, there will be more than 83 thousand private vehicle passengers on the road per week in Belize, and 109 thousand by 2035. Consistent advancement in EV technology promises to continue to reduce prices and support electric vehicle sales to the general public. Investing in EV infrastructure contributes to Belize's NDC targets which include avoiding 117 KtCO2e/year21 from the transport sector by 2030

Pipeline Opportunity

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Investment Opportunity Area

National EV Charging Station

Business Model

Invest in EV charging infrastructure which will allow Belize to reduce its carbon footprint and tap into a growing global trend of automotive electrification. Government will faciliate the development and construction of EV charging infrastructure, with the EV charging stations being privately owned.

Business Case

Learn about the investment opportunity’s business metrics and market risks.

Market Size and Environment

Market Size (USD)
Describes the value in USD of a potential addressable market of the IOA.

174 vehicles per 1,000 people in Belize

174 vehicles per 1,000 people in Belize ~ roughly 70,000 ICE vehicles

Indicative Return

IRR
Describes an expected annual rate of growth of the IOA investment.

5% - 10%

Approximately 8% IRR is estimated from an initial investment of USD 1.1 MN.

Investment Timeframe

Timeframe
Describes the time period in which the IOA will pay-back the invested resources. The estimate is based on asset expected lifetime as the IOA will start generating accumulated positive cash-flows.

Medium Term (5–10 years)

The total investment timeframe is expected to be short term given the size of the investment and the business model. Based on the estimated gain on investment, the payback period is approximately 5 years.

Ticket Size

Average Ticket Size (USD)
Describes the USD amount for a typical investment required in the IOA.

USD 1 million - USD 10 million

Market Risks & Scale Obstacles

Capital - Limited Investor Interest

Belize has only recently begun importing electric vehicles. Investors would be hesitant to invest in the stations and risk increase in the number of EVs in the country.

Impact Case

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Sustainable Development Need

Belize’s road transport fleet is responsible for almost 99% of fossil fuel consumption in the country, therefore, affecting the air quality with clear repercussions on public health. Also, by emitting GHG, the vulnerability of the country to climate change correspondingly increases.

Gender & Marginalisation

Global warming affects all people especially the marginalized who live under poorer conditions. Efforts to improve conditions is vital.

Expected Development Outcome

As Electric vehicles do not generate any (zero) emissions, it would result in better environmental benefits such as better air quality and health as carbon emissions are significantly reduced Additionally, commuters will benefit from a more eco-friendly transportation solution

Gender & Marginalisation

Women and low income communities suffer disproportionately from the effects of global warming partly caused by CO2 emissions.

Primary SDGs addressed

Sustainable Cities and Communities (SDG 11)
11 - Sustainable Cities and Communities

11.2.1 Proportion of population that has convenient access to public transport, by sex, age and persons with disabilities

Current Value

Satisfaction with public transport 49 % (2014)

Target Value

90% of the population has access to regular public transport service in less than 30 min from their homes by foot (Belize CTNMP)

Affordable and Clean Energy (SDG 7)
7 - Affordable and Clean Energy

7.1.2 Proportion of population with primary reliance on clean fuels and technology

Current Value

In 2018, 83.0 % of the population relied primarily on clean fuels and technology.

Industry, Innovation and Infrastructure (SDG 9)
9 - Industry, Innovation and Infrastructure

9.4.1 CO2 emission per unit of value added

Current Value

0.2 kg per PPP$ of GDP in 2018

Target Value

Belize's NDC targets which include avoiding 117 KtCO2e/year21 from the transport sector by 2030 through a 15% reduction in conventional transportation fuel use by 2030 and achieve 15% efficiency per passenger- and tonne-kilometre through appropriate policies and investments.

Directly impacted stakeholders

People

Users include customers who would rely on the charging infrastructure to meet their charging needs. Ideally, residential customers would be able to access charging services during routine commutes. Commercial customers would be able to access charging services for their fleets.

Gender inequality and/or marginalization

Women and low income communities suffer disproportionately from the effects of global warming partly caused by CO2 emissions.

Planet

Reduced carbon emissions resulting in better health and air quality

Outcome Risks

Negative externalities are limited.

Impact Risks

External factors disrupt delivery of expected impact.

Impact Classification


What

Invest in EV charging stations for EVs in the country will lead to a more sustainable transport system

Who

Persons with EV vehicles can utilise the stations, more affordable transport solution in comparison to a fuel/diesel vehicle

Risk

Belizean population choose not to adopt and purchase EVs.

Impact Thesis

Contributes to cleaner air and reduced carbon emissions that will benefit people and the environment.

Enabling Environment

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Policy Environment

Developing Belize's EV capacity is a national priority and outlined in Belize's Updated Nationally Determined Contribution. However, a national EV strategy does not exist as yet. The Government of Belize's NDC targets include avoiding 117 KtCO2e/year from the transport sector by 2030 through a 15% reduction in conventional transportation fuel use by 2030 and achieving 15% efficiency per passenger- and tonne-kilometre through appropriate policies and investments. Currently ~0.32 tonnes of CO2 transport emissions per capita in Belize.

Financial Environment

Uncertainty remains as to fiscal incentives for the importation of electric vehicles and a national strategy for the development and establishment of emissions-based taxes/feebates for imported vehicles is still in its very early stages.

Regulatory Environment

The Public Utilities Commission (PUC) is the sole regulatory agency for the electricity, water, and telecommunications sectors. EV infrastructure would have to meet national and international safety and accessibility standards.

Marketplace Participants

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Private Sector

Potential IOA investors.

Government

Ministry of Public Utilities and Logistics is responsible for national public utilities policy. Ministry of Sustainable Development, Climate Change & Disaster Risk Management is responsible for national sustainable development and climate change policy.

Target Locations

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country static map
urban

National

Investment needed within all six (6) districts and in particular in urban areas. Urban areas are more likely to have high levels of traffic congestion that contributes to air pollution.

References

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    • ("1) Energy Transition Initiative. (2015). Energy Snapshot: Belize. Retrieved from https://www.nrel.gov/docs/ fy15osti/62707.pdf " "2) MDPI Journals. (2021). Systemwide Consideration for Electrification of Transportation in Islands and Remote Locations "
    • (3) Belize Electricity Limited. (n.d). Charging Infrastructure
    • (4) Belize Electricity Limited. (2020). Charging Infrastructure Request for Proposal " 5) International Energy Agency. (2021). Global EV Outlook 2021: Accelerating ambitions despite the pandemic. Retrieved from https://iea.blob.core.windows.net/assets/ed5f4484-f556- 4110-8c5c-4ede8bcba637/GlobalEVOutlook2021.pdf " " 6) MDPI Journals. (2021). Systemwide Consideration for Electrification of Transportation in Islands and Remote Locations " "7) United States Department of Energy. (2015). Costs Associated With Non-Residential Electric Vehicle Supply Equipment: Factors to consider in the implementation of electric vehicle charging stations. Retrieved from ​​https://afdc.energy.gov/files/u/publication/evse_cost_report_2015.pdf "