An Overview of Electric Vehicles and Their Role in the Future of Smart Grid 2.0 and Electricity Markets

The deployment of Electric Vehicles (EVs) as an integral component of smart energy grids has always been a topic of interest. Research institutions are actively exploring the possibility of replacing internal combustion vehicles with electric ones. The appeal of EVs lies not only in addressing transportation needs but also in their batteries' ability to store electrical energy. With the emergence of EVs, a new form of electrical load is introduced to the power grid. However, with the introduction of Vehicle-to-Grid (V2G) technology, these vehicles can also serve as decentralized energy resources. In recent years, the exchange of energy between power grids and EVs has become a significant focus, leading to extensive studies in this field. Ensuring the required power supply for EVs and utilizing the energy storage capabilities of their batteries to meet power demands at various times of the day necessitate thorough examination. This article provides an overview of foundational concepts, starting with an examination of the technical and economic impacts of deploying EVs on power distribution networks. Subsequently, it explores the influence of adopting this technology on the utilization of renewable energy sources and the environmental implications of EVs. Finally, the article delves into the examination of the participation of EVs in future electricity markets, highlighting their potential role in shaping the landscape of Smart Grid 2.0 and electricity markets.