Energy Anxiety in Decentralized Electricity Markets: A Critical Review on EV Models

Abstract

The automobile sector is a promising avenue for enhancing energy security, economic opportunity, and air quality in India. Before penetrating a large number of electric vehicles (EV) into the power grid, a thorough investigation and assessment of significant parameters are required, as additional nonlinear and EV loads are linked to the decentralized market. Many automobile companies have already invested in electric vehicle research; hence, a detailed analysis on range anxiety and grid connectivity concerns are the important factors affecting the future of the electric vehicle industry. In this paper, the initial review is about the decentralized market in India and sustainable aspects of electric mobility based on the Indian context, as it is a developing nation with an enormous resource and scope for EV markets. With recent literature from the last three years, the substantial constraints observed in benefits and challenges are reviewed. The financial stability aspects and the incentives to overcome the barriers to EV adoption are briefly discussed. From the review, it has come to the limelight that infrastructure availability, technology, load demand, and consumer behaviour are all major obstacles in the electric vehicle ecosystem. For the overall design and study of the vehicle to grid (V2G) infrastructure, this paper also provides insight into the representation of electric vehicles in different energy-efficient models and their categorization while connecting to the grid. The methodology adopted for energy-efficient models includes lifecycle emissions, economy, smart charging, real-time optimization, aggregated EV resource modelling, and a support vector machine (SVM)-based method. This paper gives a positive impact on EV fleet integration and electric mobility in general, as it critically reviews the influential parameters and challenges. This classification depends on crucial parameters that are at the frontline of EV grid integration research. This review is a solution to enhance grid stability in regard to new EV models. With the advanced electric motors development and renewed battery technology models, longer-distance automobiles are now available on the market. This paper investigates the constraints of EV grid integration and analyzes different EV models to ease the grid stability for a decentralized market.