Cost-Benefit Analysis of Electric Vehicle Parking Facilities Integrated Renewable Energy Source and Battery Storage

Due to the rapidly increasing number of electric vehicles (EVs) in society, a robust charging infrastructure is essential to reduce dependency on fossil fuel generation. This article examines the technical, economic, social, and environmental viability of charging facilities for electric vehicles. It focuses on a parking lot integrated with photovoltaic distributed generation and a battery energy storage system to facilitate convenient EV charging and reduce carbon emissions. Moreover, energy management techniques (EMT) are employed to balance the active power demand between sources and loads by controlling the charging and discharging of the battery energy storage system (BESS). For a comprehensive analysis of economic benefits, mathematical models for the costs of charging facilities, the income of the parking lot, and social and environmental impacts have been developed. Additionally, the financial advantages of PV-BS PLs are evaluated, considering terms like changes in subsidies, installation costs, and the expenses of BESS and PV plants. The findings indicate that PV-BS PLs offer substantial social and economic benefits, with an estimated payback period (PP) of approximately five years, delivering 20% grid benefits and 71% societal benefits.