Abstract
Mass deployment of Electric Vehicles (EVs) in the automobile sector is increasing the load on the distribution sector, necessitating better load control. Due to the frequent charging needs of EVs, more and more charging infrastructure needs to be built. With the inclusion of Fast Charging Stations (FCS), the load imposed on the grid is far greater than usual because of the higher charging currents. The existing literature proposes charging scheduling as the solution, which suggests a coordination process that starts with an EV reaching the Charging Station (CS) or booking a reservation for charging. However, this paper discusses the Peer-to-Peer (P2P) trading of charging quota between FCS as a solution to the overall load management problem. A smart contract with all the relevant information regarding the amount of power and price executes the trade. Based on CS congestion, FCS may have a surplus or deficit of power; by trading off that surplus power, overburdened CS will be able to manage their loads while the FCS having surplus energy maximize their profit. The paper also discusses how coordination strategies determine the proper amount of quota that can be traded. Quantification of coordination contributed by the EV user is also done in order to encourage the users to participate in the coordination process by offering some incentives.
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