Renewable Energy Trading to Enhance Sustainability Transition Across Vehicle Parking Station

Abstract

The study focuses on the use of renewable energy trading to improve the sustainability of vehicle parking stations. It explores potential renewable energy trading systems that might help the parking business manage the shift to sustainability. The research provides the potential effects of a microgrid system on the environment and the economy. The system has PV/WT/GEN, which includes an annualized savings of $3,740, a simple payback period of 8.79 years, ROI of 8.09%, and an IRR of 10.5%. The system also involves a capital investment of $31,948. This research explores its financial and environmental advantages, especially considering that it can produce 3,494,424 units of power yearly and reduce carbon emissions by 55.3 kg. Based on this analysis, the chapter provides specific suggestions for stakeholders to encourage the microgrid's uptake and clear up misinterpretation, supporting environmentally friendly energy practices.