Smart vehicle-to-grid integration strategy for enhancing distribution system performance and electric vehicle profitability

Abstract

This study presents a novel Vehicle-to-Grid (V2G) integration strategy. By utilizing the energy stored in electric vehicles (EVs) to inject power into the grid optimally during peak-load/high-tariff periods. This V2G strategy has two main objectives: enhancement of the system performance and offering financial profit to EV owners. The V2G strategy optimizes the energy exchange between EVs and the grid based on load leveling methodology through intelligent scheduling of charging/discharging times to alleviate grid stress during peak demand, leading to enhanced system performance. Also, it enables EV owners to sell their excess energy to the utility at favorable prices, which not only helps EV owners offset their charging costs but also turns their EVs into profitable assets. The contribution over recent similar studies is targeting multiple objectives simultaneously, besides employing a comprehensive set of factors, involving all relevant participants, and rigorous load modelling. The effectiveness of this strategy is demonstrated through comprehensive simulations with two different charging scenarios applied to two networks, RBTS-bus2 and ShC-D8. The results show the enhancement of system performance, as evidenced by improvements in voltage profiles and load curves, besides reductions in losses, operational costs, and feeder and transformer loading. Furthermore, the proposed approach maximizes the profit of EV owners.