The Vehicle-to-Grid Concept with Respect to the Preferences of Electric Vehicle Drivers and Charging Station Operators

Abstract

Recent events in Europe show the necessity of speeding up the transition to local renewable energy sources utilization within countries’ power systems. Moreover, the share of electric vehicles is gradually increasing within the Europe market. To utilize renewable energy sources with intermittent character to supply power for this increasing demand for electric vehicle charging, the vehicle-to-grid concept must be applied. However, for this concept to be successful, it should be beneficial for electric vehicle drivers and charging station operators. As a result, the focus of this research is on developing a charging/discharging control algorithm that adheres to the above assumptions. The use of the proposed control mechanism in case studies demonstrates that if electric vehicle drivers declare their preferences truthfully, the social welfare of all participants can be maximized. To prevent one of the drivers from trying to disrupt the social welfare concept in their favor by reporting false preferences, the incentive mechanism is proposed as well. The case studies show that the incentive mechanism results in the increased cost of the participant trying to disrupt the social welfare while decreasing the cost of all the others. Therefore, truth-telling and thus maximizing the social welfare of all participants in the system is an optimal strategy for each of them.