Economic Analysis of Transformer Loss of Life Mitigation Using Energy Storage and PV Generation

High penetration of electric vehicles (EVs) can potentially put the utility assets such as transformers under overload stress causing decrease in their lifetime. The decrease in PV and battery energy storage system (BESS) prices has made them viable solutions to mitigate this situation. In this paper, the economic aspect of their optimal coordination is studied to assess transformer loss of life and hottest spot temperature (HST). Monte Carlo simulation is employed to provide synthetic data of EVs load in a residential complex and model their stochastic behavior. For load, temperature, energy price and PV generation, data for City of College Station, Texas, USA in 2018 is acquired and a case study is developed for one year. The results illustrate using BESS and PV is economically effective and mitigates distribution transformer loss of life.