Enhancing grid stability and sustainability in electrical markets: A review on the synergy of renewable energy and electric vehicles

Deregulated power systems have reformed the dynamics of modern electricity markets through promoting competition, efficiency, and consumer-oriented benefits while, at the same time, creating new challenges in system stability and sustainability. The article offers an extensive review of renewable energy sources (RES) and electric vehicle (EV) integration in deregulated power systems, emphasizing their synergetic potential for augmenting grid resilience, economic viability, and environmental performance. The research thoroughly analyzes the contribution of erudite smart grid (SG) infrastructures, demand-side management (DSM), and vehicle-to-grid (V2G) technologies in reducing intermittency, voltage and frequency deviation stabilization, and facilitating cost-optimized dispatching of hybrid RES (HRES). The prime contribution of this research is the techno-economic assessment of RES–EV integration approaches, illustrating the viability of grid parity attainment under certain market pricing scenarios, thereby ensuring sustainable competitiveness in reformed energy markets. Additionally, the article outlines how EVs offer ancillary services, including frequency regulation, load balancing, and peak shaving, reducing dependence on expensive infrastructure reinforcements. Integrating technological advancements, regulatory frameworks, and market-oriented operational models, this review provides a framework to bridge the knowledge gap of integrated RES–EV research under deregulated power systems. The findings set out here are highly applicable to policymakers, utilities, and energy market participants because they identify avenues to promote decarbonization at pace, strengthen system flexibility, and progress toward a low-carbon, sustainable electricity future.