Economic Feasibility and Sensitivity Analysis on Integration of Solar PV and Electric Vehicles in Renewable Energy Community

Renewable Energy Communities (RECs) have emerged recently because of numerous advantages, as these are characterized by locally generated electricity from renewable energy sources (RESs) controlled by individuals, enterprises, and public administrations. This article focuses on the development of a mathematical model to investigate the time-dependent behavior of RECs with an overview of the technical, economic, and environmental scenario. The economic viability and overall profitability of incorporating electric vehicles (EVs) into a photovoltaic (PV)-based REC that consists of consumers and prosumers are assessed in this study. Key economic parameters, for instance Net Present Value (NPV), Levelized cost of energy (LCOE), and payback period (PP), are included in the mathematical model, and, additionally, CO₂ emission analysis has been considered. A sensitivity analysis of the REC has been carried out to focus on the impact of various parameters considered in our configuration. Moreover, the saving of CO₂ emissions and economic benefits have been evaluated. The mathematical and numerical model could represent a useful tool for policymakers, the Government, stakeholders, and participants to analyze the advantages of building a REC.