Multi-stage planning of fast charging stations for PEVs using traffic-based approach

Abstract

The rising environmental concerns and easily accessible power system infrastructure have elevated the use of plug-in electric vehicles (PEVs) in transportation systems. However, PEVs growth is moderate owing to range anxiety of drivers. In this context, fast charging stations (FCSs) deployment is an emerging development to lower the range anxiety of drivers. Though, heavy deployment of PEVs has up-surged the need of load demand on power systems. This requires a coordinated operation between power systems and future transportation systems to meet their demands. The FCS investors have keen interest in the net present value (NPV) of the project. On the other hand, the utility wants to keep its peak demand within the limits to ensure the safe-operation. This creates a contradiction between the FCS investor and utility’ objectives. Thus, this paper proposes an analytical approach for traffic-based multi-stage planning of FCS that aids FCS investor by considering PEV traffic, staggered investments, convenience of PEV drivers, profit on investments, and capacity limit of FCS imposed by the utility. The formulation for NPV is modified to account the revenue incurred owing to staggered investments. Proposed methodology determines a set of few sub-solutions constrained by mean service time of PEVs. This facilitates FCS investor to select the planning solution on the basis of his/her satisfaction. Detailed investigation of the proposed methodology highlights the applications and importance on assessing the FCS investors’ concerns while considering the affecting factors of transportation system, power system, drivers’ concerns, and profit margins altogether.