Abstract:

This paper presents a techno-economic analysis for the optimal sizing of a Hybrid Energy Storage System (HESS) integrating a Redox Flow Battery (RFB) and a Supercapacitor (SC) for an Electric Vehicle (EV) charging station. The SC is used for shaving noisy peak loads and ensuring grid stability, while the use of RFB is optimized through genetic algorithm-based multi-period optimization considering time-of-use (ToU) pricing and energy arbitrage. The profitability of HESS is analyzed and evaluated, and the results indicate that, with the current capital costs, utilizing HESS for this specific use case may not always be directly profitable. However, if installation costs were to decrease, employing HESS can become economically advantageous. Additionally, the management tool and optimization algorithms developed for HESS can be highly beneficial in a wide range of other scenarios.

Disclaimer

Copyright ©2024 by AEIT Associazione Italiana di Elettrotecnica, Elettronica, Automazione, Informatica e Telecomunicazioni

For citation use:

M. Buchajczyk, S. Korjani, M. Duranti and E. G. Macchi, "Techno-Economic Analysis and Sizing of RFB and Supercapacitor-Based HESS for an EV Charging Station," 2024 AEIT International Annual Conference (AEIT), Trento, Italy, 2024, pp. 1-6, doi: 10.23919/AEIT63317.2024.10736734.

Acknowledgment

This work's results are part of the project SMHYLES, co-funded by the Εuropean Union through the granting authority European Climate, Infrastructure and Environment Executive Agency (CINEA) under the Horizon Europe grant [No 101138029].