Techno-Economic Analysis of Grid Connected, Solar and Wind Power Generation based EV Charging Station

Renewable energy technologies have made a profound impact on the global electricity sector by providing consumers with reliable and continuous power. In developing countries, one of the most critical research areas involves leveraging renewable energy sources to meet the energy demands of electric vehicle charging stations. This research investigates the technical and financial viability of grid and renewable-powered energy systems for an environmentally sustainable electric vehicle (EV) charging station for Ahmedabad (Gujurat), city of India. The presented setup is subjected to an economic analysis for satisfying the charging requirement of the EV 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 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 hybrid particle swarm optimization and gray wolf optimization algorithm. 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 envisaged system could help to reduce the dependence on the overstrained grid, especially in developing nations.