Energy management strategies and cost benefits analysis at electric vehicle parking lots incorporating photovoltaic energy generation and energy storage system

This article proposes a parking lot with integrated photovoltaic energy generation and energy storage systems (PV-ES PLs) to provide convenient EV charging, energy savings, and carbon emissions reduction. This study aims to investigate the benefits of PV-ES PLs and enhance their applicability in EV charging infrastructure. The article focuses on analyzing the energy management strategy (EMS) at parking lots (PLs) based on time-of-use (TOU) tariffs. The EMS aims to reduce the peak-to-valley power demand from the grid and maximize the utilization of photovoltaic (PV) generation. By aligning EV charging with low-cost periods and utilizing PV generation during the day, the EMS optimizes energy usage and reduces dependence on the grid. Furthermore, the article evaluates the financial benefits of the suggested PV-ES PLs. It considers factors such as reduced subsidies, construction costs, and the costs of energy storage systems (ESS) and PV systems to assess the proposed system’s economic impact. The results demonstrate that PV-ES PLs have significant social and economic benefits, which are crucial factors in the decision-making processes for installing such facilities. The estimated payback period for the proposed project is approximately five years, with 18% grid benefits and 69% benefits for society. •Comprehensive cost related to EV charging station with PV source and energy storage system analyzed.•Comprehensive benefit related to charging station with PV and energy storage system are analyzed.•Energy management techniques are modeled by considering the time of use tariffs.