Optimal Pricing of Vehicle-to-Grid Services Using Disaggregate Demand Models

Charilaos Latinopoulos, Aruna Sivakumar and John W. Polak
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Charilaos Latinopoulos: Department of Civil and Environmental Engineering, Imperial College London, London SW7 2BU, UK
Aruna Sivakumar: Department of Civil and Environmental Engineering, Imperial College London, London SW7 2BU, UK
John W. Polak: Department of Civil and Environmental Engineering, Imperial College London, London SW7 2BU, UK

Energies, 2021, vol. 14, issue 4, 1-27

Abstract: The recent revolution in electric mobility is both crucial and promising in the coordinated effort to reduce global emissions and tackle climate change. However, mass electrification brings up new technical problems that need to be solved. The increasing penetration rates of electric vehicles will add an unprecedented energy load to existing power grids. The stability and the quality of power systems, especially on a local distribution level, will be compromised by multiple vehicles that are simultaneously connected to the grid. In this paper, the authors propose a choice-based pricing algorithm to indirectly control the charging and V2G activities of electric vehicles in non-residential facilities. Two metaheuristic approaches were applied to solve the optimization problem, and a comparative analysis was performed to evaluate their performance. The proposed algorithm would result in a significant revenue increase for the parking operator, and at the same time, it could alleviate the overloading of local distribution transformers and postpone heavy infrastructure investments.

Keywords: electric vehicle charging; vehicle-to-grid; genetic algorithms; particle swarm optimization; demand-side management; discrete choice theory; revenue management (search for similar items in EconPapers)
JEL-codes: Q Q0 Q4 Q40 Q41 Q42 Q43 Q47 Q48 Q49 (search for similar items in EconPapers)
Date: 2021
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (3)

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