Renewable Energy Trading to Enhance Sustainability Transition Across Vehicle Parking Station

List Of Nomenclature

• CP: Power Temperature Coefficient

• GEN: Genset

• IRR: Internal rate of return

• LCOE: Levelized cost of energy

• RET: Renewable Energy Trading

• ROI: Return of investment

• SoC: State of charge

• V2B: vehicle-to-building

• V2G: vehicle-to-grid

• V2G-EVs: vehicle-to-grid electric cars

• WT: Wind turbine

• G_T(t): Real solar radiation on the PV panel

• G_T,STC(t): Solar radiation on the PV panel under standard conditions

• H_hub: hub height (m)

• H_anem: Anemometer height (m)

• P_PV,t: Rated capacity of the PV array

• T_cell(t): Real-time temperature of the PV

• V_anem(t): Wind speeds at the anemometer's elevation

• V_w(t): Wind speeds at hub height

• 𝜏: Solar transmittance

• 𝛼: PV solar absorbance

• 𝜂_c: PV array's electrical conversion efficiency

Introduction

The integration of RET represents a pivotal strategy in fostering sustainability transition within the context of Vehicle Parking Stations. As global concerns over climate change and environmental sustainability continue to escalate, there is a pressing need to explore innovative solutions that reduce carbon footprints and promote eco-friendly practices. This research initiative focuses on the strategic implementation of RET mechanisms to enhance sustainability within vehicle parking facilities. The significance of the research is highlighted by the fast development and rising energy consumption associated with parking lots for vehicles. In addition to being essential for urban transportation, these facilities have a major influence on the environment and energy consumption. Parking lots for vehicles have the potential to develop into sustainable hubs that reduce greenhouse gas emissions and advance energy efficiency by utilizing renewable energy sources and RET platforms. Furthermore, the geographical context of the research location, located at KG Halli, D' Souza Layout, Ashok Nagar, Bengaluru, Karnataka 560001, India, offers a distinct dimension to the study. Comprehending the geological features and natural resources of the location is important to develop customized RET approaches that sync with the surrounding environment and maximize energy efficiency.

Paper layout: Rest of the paper is organized as follows: problem statement, energy potential assessment, research gap and contributions, mathematical modeling, solution methodology, electricity consumption and results discussion. Finally, this study has been concluded.