Abstract
This study explores the intricate relationships among renewable energy integration, electric vehicle (EV) adoption, and their effects on power grid performance. The need for optimized integration of EV charging stations (EVCSs), Distribution Static Compensators (DSTATCOMs), and photovoltaic (PV) systems to enhance network efficiency and stability is addressed. Using the IEEE 69-bus system, this study evaluates four scenarios, each incorporating different combinations of EVCSs, PVs, and DSTATCOMs. Introducing the Renewable Distributed Generation Hosting Factor (RDG-HF) and Electric Vehicle Hosting Factor (EV-HF) as pivotal metrics, this research aims to optimize the placement and sizing of these components using the Hippopotamus Optimization Algorithm (HO). The integration of EVCSs, PVs, and DSTATCOMs significantly reduced the power loss (up to 31.5%) and reactive power loss (up to 29.2%), highlighting the technical benefits of optimized integration. Economically, the scenarios demonstrate varying payback periods (2.7 to 10.4 years) and substantial long-term profits (up to $1,052,365 over 25 years), emphasizing the importance of strategic integration for maximizing economic benefits alongside technical performance improvements.