Electric Vehicles and Grid Integration: Impacts on Power Systems and Energy Markets
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Abstract
The increasing adoption of electric vehicles (EVs) presents both opportunities and challenges for power systems and energy markets. As EV penetration grows, their integration into the electrical grid becomes a critical factor in maintaining grid stability, optimizing energy use, and facilitating the transition to a more sustainable energy system. This paper explores the multifaceted impacts of EVs on power systems, including load demand variability, grid congestion, and the potential for vehicle-to-grid (V2G) services. Additionally, it examines the implications for energy markets, such as shifts in electricity pricing, the role of demand response, and the emergence of new business models. Through a comprehensive review of current research, case studies, and simulation models, the paper highlights the opportunities for leveraging EVs as flexible resources within the grid, while also addressing the technical and regulatory challenges associated with their widespread integration. The findings provide insights for policymakers, utility operators, and market participants on how to effectively manage and capitalize on the growing presence of electric vehicles within power systems and energy markets.
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