Energy Storage and Electric Vehicles: Technology, Operation, Challenges, and Cost-Benefit Analysis

Abstract

With ever-increasing oil prices and concerns for the natural environment, there is a fast-growing interest in electric vehicles (EVs) and renewable energy resources (RERs), and they play an important role in a gradual transition. However, energy storage is the weak point of EVs that delays their progress. The world's EV industry is accelerating to faster adoption with appropriate incentives to the EV owners, policy support, and encouraging local manufacturing. The increasing demand for EV's has presented itself as an authentic alternative to internal combustion engines (ICE). The main feature of the RERs is their variability and intermittency. These drawbacks are overcome by integrating more than one renewable energy source including backup sources and storage systems. This paper presents various technologies, operations, challenges, and costbenefit analysis of energy storage systems and EVs.