Socio-Techno-Economics of VGI-EV Charging Infrastructure Outlook

Socio-Techno-Economics of VGI-EV Charging Infrastructure Outlook

• Kaveh Aflaki, Executive Board Member, IEMS Ltd.; Director Customer Solutions-North America, Smart Wires Inc.; Stuart M.B.A. student
• Clinical Assistant Professor of Operations and Energy Management Ghazale Haddadian

Abstract:

Electrification of transportation is a promising solution for the world’s current climate and economic issues. The International Energy Agency (IEA) has predicted a growth of integration of EVs into the transportation industry to 135 million by 2030 worldwide in the Energy Outlook report. According to the statistics, a 1% increase in the number of electric vehicles (EVs) has reduced pollution by 0.029%, and when electricity is supplied primarily from renewable sources, EVs might lower CO2 emissions by 14–100% in 2050 when compared to conventional autos. However, limited public charging and long charging times are now among the top obstacles to further EV adoption.

This independent study/article aims to provide an overview of vehicle-grid integration or VGI in terms of economic, social, and environmental aspects. The current stage of renewable-powered EV charging stations and techno-economic methodologies for managing EVs and their charging stations will be examined in this research. Further, for the potential benefits of EV deployment to be shared by everyone, equity in the long-term planning of public charging infrastructure is paramount, which will be analyzed in this research study.

The ultimate goal for charging is to become convenient, fast, and seamless. Achieving this goal will require predictive maintenance enabled by data science and real-time diagnostics, which will be evaluated in this research study. Moreover, this study evaluates the most impactful partnerships that are essential for accelerating the rollout of charging infrastructure. Finally, this research will discuss future trends around EVs and their role in electrical energy systems for the future planning of smart cities.

All Illinois Tech faculty, students, and staff are invited to attend.

The Friday Research Presentations series showcases ongoing academic research projects conducted by Stuart School of Business faculty and students, as well as guest presentations by Illinois Tech colleagues, business professionals, and faculty from other leading business schools.