Description of Invention
As the global adoption of Electric Vehicles (EVs) surges, efficient management of retired EV batteries has become a critical concern. This research explores the innovative use of Second-Life Electric Vehicle Batteries (SLEVBs) as a sustainable energy solution for solar-powered streetlights. The study details the process of repurposing retired EV batteries, assessing their capacity for integration into Energy Storage Systems (ESS) designed to power streetlights. Economic considerations are thoroughly analyzed, including the formulation of a purchasing price model for retired batteries and the associated repurposing costs. The model accounts for various factors such as the State of Health (SOH) of the batteries, their lifespan degradation rate, and potential government incentives. The competitive pricing of new lithium-ion batteries, driven by their continuous cost reduction, is also evaluated in comparison to the cost-effectiveness of SLEVBs. The findings underscore the viability of utilizing SLEVBs in solar-powered streetlight applications, offering a practical and environmentally-friendly alternative for urban lighting systems while contributing to the circular economy by extending the lifecycle of EV batteries.