Tecno-Economic Feasibility Of Installing PV Based Electric Vehicles Charging Stations In Public Parking Lots For Pakistan

Abstract

As the global population and industrialization continue to grow, the demand for energy is increasing at a rapid pace. It is projected that between 2018 and 2050, worldwide power utilization will rise by nearly 50%. Historically, fuel effects have been the primary source of energy to meet this high demand, but this has had a detrimental impact on the environment. According to a forecast by the International Energy Agency (IEA), the number of electric vehicles (EVs) on the road, excluding two and three wheelers, is expected to reach around 250 million by 2030. In line with this, Pakistan's National Electric Vehicle Policy (NEVP) has set a target of achieving 30% penetration of electric cars and trucks nationwide by 2030 and 90% by 2040. Thermal power plants are currently the primary source of electrical energy in Pakistan, but they are not effective or ecologically welcoming. In this finding, four different models for a high-rise residential building in Islamabad, Pakistan were simulated using Homer Pro software. The ideal results were then compared centered on net present cost (NPC), levelized cost of electricity (LCOE), and greenhouse gas CO2 emissions. Model 1 comprised solar panels and a battery converter system, while Model- 2 featured a diesel generator with PV and battery-converter system. Model-3 was a grid connected version of Model-1, and Model-4 was a grid-connected version of Model-2. Of the four models, among the four electric vehicle charging station models analyzed, it is evident that there are notable variations in costs and environmental effects for each option. Model 1 stands out with the highest net present cost and LCOE (Levelized Cost of Electricity), while models 2 and 3 share the same net present cost and LCOE but exhibit higher CO2 emissions and fuel consumption. As a result, if the objective is to minimize costs and environmental impact, Model 4 emerges as the most appealing choice. with a net present cost (NPC) of $12.2M, a levelized cost of electricity (LCOE) of $0.163/KWh, and zero fuel consumption per year (L/yr).