MILP-Based Profit Maximization of Electric Vehicle Charging Station Based on Solar and EV Arrival Forecasts

Andu Dukpa () and Boguslaw Butrylo
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Andu Dukpa: Faculty of Electrical Engineering, Bialystok University of Technology, ul. Wiejska 45D, 15-351 Bialystok, Poland
Boguslaw Butrylo: Faculty of Electrical Engineering, Bialystok University of Technology, ul. Wiejska 45D, 15-351 Bialystok, Poland

Energies, 2022, vol. 15, issue 15, 1-14

Abstract: Electric vehicles (EVs) will be dominating the modes of transport in the future. Current limitations discouraging the use of EVs are mainly due to the characteristics of the EV battery and lack of easy access to charging stations. Charging schedules of EVs are usually uncoordinated, whereas coordinated charging offers several advantages, including grid stability. For a solar photovoltaic (PV)-based charging station (CS), optimal utilization of solar power results in an increased revenue and efficient utilization of related equipment. The solar PV and the arrival of EVs for charging are both highly stochastic. This work considers the solar PV forecast and the probability of EV arrival to optimize the operation of an off-grid, solar PV-based commercial CS with a battery energy storage system (BESS) to realize maximum profit. BESS supports the sale of power when the solar PV generation is low and subsequently captures energy from the solar PV when the generation is high. Due to contrasting characteristics of the solar PV and EV charging pattern, strategies to maximize the profit are proposed. One such strategy is to optimally size the BESS to gain maximum profit. A mixed integer linear programming (MILP) method is used to determine the optimal solution.

Keywords: solar photovoltaic; forecasting; energy storage system; electric vehicles; profit maximization; mixed integer linear programming (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: 2022
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (8)

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