Plug-in electric vehicle dynamic pricing strategies for bidirectional power flow in decentralized and centralized environment

Abstract

With the increasing number of plug-in electric vehicles (PEV) power demand management without increasing existing facilities is becoming challenging. To address the issue two novel pricing strategies one for centralized and other for decentralized environments considering bidirectional flow of power in a dynamic power pricing market are proposed in this paper. The two proposed strategies aim to fulfil the requirement of PEV owners and the power system operated by the Distribution System Operator (DSO). In the proposed approach load demand management with peak saving and valley filling for charging/discharging of PEV is done, while the base load connected to the system is not affected. While availing Vehicle to Grid (V2G) services battery degradation cost is considered for increasing service effectiveness and encouraging PEV owners to participate. The randomness of PEV in terms of time, SOC, battery capacity and level of charging/discharging is considered to be in accordance with the real-time scenario. The two proposed strategies are compared based on objective achievement, loading on the distribution transformer and finding a real-time suitable environment for a 24-hour duration. The numerical case study of the proposed strategies are carried out by considering Indian environment.