Techno-economic assessment of grid and renewable powered electric vehicle charging stations in India using a modified metaheuristic technique

Abstract

Renewable energy technologies have left an indelible impression on the global electrical market by supplying customers with uninterrupted electricity. Utilizing renewable energy sources to satisfy the load requirements of electric vehicle charging stations is one of the most significant areas of study in developing nations. This research investigates the technical and financial viability of grid and renewable-powered energy systems for an environmentally sustainable electric vehicle charging station in three distinct regions across India. The presented setup is subjected to an economic analysis for satisfying the charging requirement of the electric vehicle load. The system is designed in such a way that the power exchange takes place between the grid network and different components of the energy system. The assigned places are selected so that wind and solar prospects are contrary in these areas. The charging hours of electric vehicles are different in the specific sites. The optimal sizing of the system component is performed to minimize the levelized cost of electricity and total net present cost while keeping the probability of power supply failure within acceptable limits using a novel metaheuristic-based optimization algorithm i.e., modified salp swarm algorithm. The achievement of the designed system demonstrates that New Delhi has a lower total net present cost of $ 14853.63 and levelized cost of electricity of 0.0051 $/kWh. The optimum number of solar panels and wind turbines needed to meet the EV load demand in the New Delhi region is 120 with 325 W rated capacity and 310 with 650 W rated capacity. The optimal solution for the hybrid system consists of 64.5% wind energy, 33.5% solar energy and 1.94% grid purchase with annual electricity production is 5,91,117 kWh. Similarly, the optimum values of the total net present cost and levelized cost of electricity for the city of Ahmedabad are 222762.80 $ and 0.023 kWh, respectively. The total net present cost and levelized cost of electricity in the Madurai area are 37.44% and 8.17% higher than in the New Delhi region, respectively. The envisaged system could help to reduce the dependence on the overstrained grid, especially in developing nations.