Technical and Economical Assessment of Renewable Energy-Based Electric Vehicle Charging with Energy Storage System

The rapid adoption of electric vehicles (EVs) necessitates a substantial increase in energy supply to meet the growing demand. Additionally, the transportation industry is a significant source of harmful emissions, such as SO2 and CO2. Therefore, the national grid must consistently provide a large amount of electricity to support the increasing load from EVs. This study explores the deployment of a renewable-based energy system, incorporating solar panels, wind turbines, and battery energy storage, to charge EVs in the Noida region. A technical and economic analysis was conducted for various combinations of these integrated energy system components. The primary goal is to determine the optimal sizing of system components to minimize energy costs and reduce the likelihood of power outages. To achieve these objectives, a novel metaheuristic-based optimization algorithm called the Giza Pyramid Algorithm is utilized. This investigation considers both the total net present cost and the renewable energy portion to optimize the component sizes. Simulation results demonstrate that the Giza Pyramid Construction Algorithm (GPCA) meets the desired objectives with high accuracy and resilience. The study also examines the impact of different grid purchase prices on the levelized cost of electricity. Findings reveal that the solar/wind/battery combination significantly reduces the levelized cost of energy and overall net present cost compared to other options.