Techno-Economic Analysis of Integrating Renewable Energy for Optimal PEV Load Management

This paper highlights the utilization of clean sources of energy, including solar, wind, and battery, for powering Plugin Electric Vehicles in Greater Noida, in line with the concept of sustainable development. For a renewable energy-based Plug-in Electric Vehicle charging station, a hybrid grey wolf particle swarm optimization technique is used for optimization, thus determining the best possible sizing of components for efficiency. Thus, optimization is done for minimizing the total net present cost and levelized cost of energy, while at the same time ensuring that there is no loss of power supply, measured by loss of power supply probability. This paper also includes a study on the environmental effects of this design. For optimization, this technique is compared with GWO, PSO, and WOA. From the results, it is evident that this solar, wind, and battery combination provides the best TNPC and cost of energy, thus beating all other models by a margin of 7.9% to 24.5%. HGWPSO provides a minimum LCOE of $0.3697/kWh, thus beating all models by a margin of 3.1% to 11.5%.