Techno-Economic Feasibility and Optimal Design Approach of Grid-Connected Hybrid Power Generation Systems for Electric Vehicle Battery Swapping Station

Abstract

Fossil fuel depletion, environmental concerns, and energy efficiency initiatives drive the rapid growth in the use of electric vehicles. However, lengthy battery charging times significantly hinder their widespread use. One proposed solution is implementing battery swapping stations, where depleted electric vehicle batteries are quickly exchanged for fully charged ones in a short time. This paper evaluates the techno-economic feasibility and optimal design of a grid-connected hybrid wind–photovoltaic power system for electric vehicle battery swapping stations. The aim is to evaluate the viability of this hybrid power supply system as an alternative energy source, focusing on its cost-effectiveness. An optimal control model is developed to minimize the total life cycle cost of the proposed system while reducing the reliance on the utility grid and maximizing system reliability, measured by loss of power supply probability. This model is solved using mixed-integer linear programming to determine key decision variables such as the power drawn from the utility grid and the number of wind turbines and solar photovoltaic panels. A case study validates the effectiveness of this approach. The simulation results indicate that the optimal configuration comprises 64 wind turbines and 402 solar panels, with a total life cycle cost of ZAR 1,963,520.12. These results lead to an estimated energy cost savings of 41.58%. A life cycle cost analysis, incorporating initial investment, maintenance, and operational expenses, estimates a payback period of 5 years and 6 months. These findings confirm that the proposed hybrid power supply system is technically and economically viable for electric vehicle battery swapping stations.