Abstract
To solve the problem that charging is constrained by the capacity of distribution facilities under high penetration of electric vehicles (EVs), this paper proposes to improve EV charging capacity through battery energy storage (BES) and presents the design of a locally organized market, namely micro-market, that manages the energy transactions between EVs and the BES. When the load of a distribution system approaches its limit, additional EV charging demand is met by the BES, and the price is determined in an automated two-way bidding process. This mechanism can increase EV charging capacity as well as provide an additional revenue stream for the BES in distribution systems. The presented micro-market design ensures the balance between revenue and expenditure of market participants. The organization and settlement process of the micro-market are demonstrated using an example case, and the effectiveness of the design is proved.
Highlights
Because of the cost-saving advantages and environmental benefits, electric vehicles 漏 EVs 漐 have received extensive attention and seen rapid growth
Most revenues of the demand-side energy storage projects come from energy arbitrage, i.e., profiting from the energy price difference between peak and valley periods, and the business model is hardly viable in residential areas due to the high installation cost and limited price differential
In the micro-market, EVs charging demand are met by the Battery energy storage (BES), which is compensated based on the market clearing price determined through a two-way bidding process
Summary
Because of the cost-saving advantages and environmental benefits, electric vehicles 漏 EVs 漐 have received extensive attention and seen rapid growth. In residential areas with old distribution systems, it is difficult to install charging facilities due to capacity limitation [5], and the economic benefits of expanding the power distribution system are low. In the micro-market, EVs charging demand are met by the BES, which is compensated based on the market clearing price determined through a two-way bidding process. Using this approach, the number of EV charging facilities installed in old residential areas can be increased and the EV charging demand can be better met.
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