Cost Optimization And Cost Analysis Of Medium Scale Ev Chargign Station Using Linear Programming

Abstract

Energy storage system combined with an optimal energy management system can be a reliable solution for minimizing the grid energy costs for fast charging electric vehicle charging station integrated with on-grid photovoltaic system. In this study, the main goal is to optimize grid energy cost by optimizing energy management system for a medium scale electric vehicle charging station in the context of Bangladesh. The suggested solution (charging station with storage and EMS) is simulated in MATLAB, and its performance is evaluated using the Bangladesh energy regulatory framework and power tariff structure. Two different forecasting methods are used for forecasting PV output and grid electricity unitary price following peak, off-peak and super off-peak hours of national grid. The focus of the investigation is on the system's economic performance. Its cost-effectiveness is determined using an optimization technique that produces the best control strategy and necessary infrastructure design. Linear programming optimization technique is used to solve the problem. The energy cost is analysed by four case studies such only load, load with PV, load-PV with Heuristic EMS and finally load PV with LP EMS. Different cost is found during different case studies. The most important elements for this analysis are charging load and tariff structure. Hence, electric vehicle infrastructure is near future for Bangladesh, charging demand is modelled using an artificial EV load estimator algorithm for 50 kW DC fast chargers. Overall, the results demonstrate that, based on forecasted data and load demand, the system might be a financially feasible cost-cutting alternative during peak-period pricing. On the other hand, demonstrates how input factors have a significant impact on system design and performance. The most essential of them was determined to be the power tariff, PV output and load demand. As a result, a thorough examination of this parameter's impact is carried out.