Economic model for an electric vehicle charging station with vehicle-to-grid functionality

Abstract

Energy consumption is increasing in parallel with the population and technological advancements. Albeit the energy efficiency efforts, industrial consumption, and transportation have quite important roles in this increase. The electric vehicles (EVs) are expected to constitute a positive solution to mitigate energy use in transportation. Increasing penetration of EVs into public transport provides new opportunities both for environmental sustainability and transportation infrastructure. To project the potential operator revenue, we set up a hybrid model (solar and storage), which optimizes scheduling for the EV charging unit and evaluates environmental and economic benefits. Different operational scenarios of PV-assisted charging stations will be simulated and solved with Rule-based decision making. Since regulations have an important role in building the optimization model, scenarios are created considering different European regulations. Uncertainties depending on the traffic jam (arrival-departure times), technological differences of the charging stations are encountered in the model. The results are compared among three different scenarios. Net present value of the system changes for different scenarios and electricity sale price is one of the main factors. This value tends to increase after an annual electricity sale price increase rate of 11%. Novelty statement In this study, the effect of different economic parameters on an electric vehicle charging station were analyzed. A system with electric vehicles, solar panel support, and external battery was mathematically modeled and a case study was done.