UL Solutions, a global leader in applied safety science, has released version 1.10 of its HOMER Grid modeling software. This new software is specifically designed to assist project developers and engineering firms in designing and optimizing renewable distributed energy-plus-storage powered electric vehicle (EV) charging stations.
The rise of EVs has created a need for evaluating the costs, revenue, and performance of proposed charging stations in the feasibility stage of a project. HOMER Grid 1.10 addresses this need by allowing users to quickly calculate potential charging revenue based on user-defined charging prices and the costs of electricity supply from the grid or on-site renewable generation and storage. The software also models on-demand fast charging and “smart” mode charging when time-of-use energy rates are lowest.
By running thousands of simulations, HOMER Grid can optimize scenarios for multiple variables within minutes, including electric loads, utility tariffs, incentive programs, grid-power outages, local generation, and battery storage. This allows project developers to confidently forecast revenue and return on investment, reducing the time and uncertainty of evaluating a proposed charging station. The modeling results can also help speed up the permitting process, reduce the time from quote to construction, and provide cost-savings and revenue generation data for better financing terms.
HOMER Grid integrates extensive databases for electric loads, utility tariffs, incentives, demand response programs, and weather data. This allows developers to analyze the feasibility of a prospective location and compare multiple sites quickly. The software also includes new updates, such as the addition of California’s new Net Energy Metering (NEM) 3.0 tariffs and the ability to import project production data from other software.
With the increasing sales of EVs and the investments in EV charging infrastructure, it is crucial to have reliable and efficient charging stations nationwide. HOMER Grid helps address this challenge by allowing the building of renewable energy microgrids or other distributed energy resources to power charging stations and minimize the impact on the local grid. Research has shown that a successful EV charging experience increases customer loyalty to the business.
Overall, HOMER Grid modeling software provides project developers and engineering firms with a powerful tool to design and optimize renewable energy-powered EV charging stations. By accurately forecasting revenue and ROI, maximizing project value, and minimizing risks, this software enables stakeholders to understand the full value of a project and make faster and more efficient decisions.
Source: UL Solutions