Electric Vehicles Charging Using Photovoltaic Energy Surplus: A Framework Based on Blockchain

Irvylle Cavalcante, Jamilson Júnior, Jônatas Augusto Manzolli, Luiz Almeida, Mauro Pungo, Cindy Paola Guzman and Hugo Morais ()
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Irvylle Cavalcante: INESC-ID—Instituto de Engenharia de Sistemas e Computadores-Investigação e Desenvolvimento, Instituto Superior Técnico, Rua Alves Redol 9, 1000-029 Lisbon, Portugal
Jamilson Júnior: Instituto Superior Técnico, University of Lisbon, Av Rovisco Pais 1, 1049-001 Lisbon, Portugal
Jônatas Augusto Manzolli: INESC—Instituto de Engenharia de Sistemas e Computadores de Coimbra, University of Coimbra, Polo II, R. Silvio Lima, 3030-290 Coimbra, Portugal
Luiz Almeida: ISR—Instituto de Sistemas e Robótica, University of Coimbra, Polo II, R. Silvio Lima, 3030-290 Coimbra, Portugal
Mauro Pungo: Instituto Superior Técnico, University of Lisbon, Av Rovisco Pais 1, 1049-001 Lisbon, Portugal
Cindy Paola Guzman: INESC-ID—Instituto de Engenharia de Sistemas e Computadores-Investigação e Desenvolvimento, Instituto Superior Técnico, Rua Alves Redol 9, 1000-029 Lisbon, Portugal
Hugo Morais: INESC-ID—Instituto de Engenharia de Sistemas e Computadores-Investigação e Desenvolvimento, Instituto Superior Técnico, Rua Alves Redol 9, 1000-029 Lisbon, Portugal

Energies, 2023, vol. 16, issue 6, 1-23

Abstract: In the present day, it is crucial for individuals and companies to reduce their carbon footprints in a society more self-conscious about climate change and other environmental issues. In this sense, public and private institutions are investing in photovoltaic (PV) systems to produce clean energy for self-consumption. Nevertheless, an essential part of this energy is wasted due to lower consumption during non-business periods. This work proposes a novel framework that uses solar-generated energy surplus to charge external electric vehicles (EVs), creating new business opportunities. Furthermore, this paper introduces a novel marketplace platform based on blockchain technology to allow energy trading between institutions and EV owners. Since the energy provided to charge the EV comes from distributed PV generation, the energy’s selling price can be more attractive than the one offered by the retailers—meaning economic gains for the institutions and savings for the users. A case study was carried out to evaluate the feasibility of the proposed solution and its economic advantages. Given the assumptions considered in the study, 3213 EVs could be fully charged by one institution in one year, resulting in over EUR 45,000 in yearly profits. Further, the economic analysis depicts a payback of approximately two years, a net present value of EUR 33,485, and an internal rate of return of 61%. These results indicate that implementing the proposed framework could enable synergy between institutions and EV owners, providing clean and affordable energy to charge vehicles.

Keywords: blockchain; business model; electric vehicles; intelligent management systems; photovoltaic systems (search for similar items in EconPapers)
JEL-codes: Q Q0 Q4 Q40 Q41 Q42 Q43 Q47 Q48 Q49 (search for similar items in EconPapers)
Date: 2023
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (2)

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