A Monte Carlo Simulation Approach to Evaluate Service Capacities of EV Charging and Battery Swapping Stations

Abstract

With the rapid growth of electric vehicle (EV) ownership, attentions have been paid to the foundation of EVs, the electric vehicle supply equipment (EVSE). Different approaches of effort, among which battery swapping and fast charging are the two most well studied, have been made to solve the tradeoff problem between the battery charging speed and battery lifetime. There has been considerable debate over development strategy between charging and battery swapping. In passenger vehicles, the EV charging mode seems to dominate. But, does it mean that the battery swap mode is a dead-end? The answer should be “No”. There are use cases showing that battery swap can have great potentials for some particular uses, such as taxis and buses. This paper uses Monte Carlo simulations of vehicle behaviors to compare the service capacities and earnings of EV charging and battery swapping for both taxi and bus fleets. Stochastic models of taxis, buses, charging stations (CSs) and battery swapping systems are set up. Subsequently, service capacities of the EVSE are compared. The impact of factors on the service capacity, such as the size of the vehicle's battery, vehicle's moving speed, the power of the CS, and the price of the swapping service is investigated. Finally, possible reasons of today's less prevalence of battery swapping stations are discussed. The results of the analysis, which can be helpful to policymakers and industry investors, show that with same service capacity, an EV battery swapping station could provide significantly more financial and social benefits for the vehicle operators and EVSE service providers than that of an EV CS.