A Comparative Analysis of the Efficiency Coordination of Renewable Energy and Electric Vehicles in a Deregulated Smart Power System

Deregulation in the energy sector has transformed the power systems with significant use of competition, innovation, and sustainability. This paper outlines a comparative study of renewable energy sources with electric vehicles (RES-EV) integration in a deregulated smart power system to highlight the learning on system efficiency, effectiveness, viability, and the environment. This study depicts the importance of solar and wind energy in reducing carbon emissions and the challenges of integrating RES into present energy grids. It touches on the aspects of advanced energy storage systems, demand-side management (DSM), and smart charging technologies for optimizing energy flows and stabilizing grids because of fluctuating demands. Findings were presented to show that, based on specific pricing thresholds, hybrid renewable energy systems can achieve grid parity and market competitiveness. Novel contributions included an in-depth exploration of the economic and technical feasibility of integrating EVs at the distribution level, improvements in power flow control mechanisms, and strategies to overcome challenges in decentralized energy systems. These insights will help policymakers and market participants make headway in the adoption of microgrids and smart grids within deregulated energy systems, which is a step toward fostering a sustainable and resilient power sector.