Time of Use Price based Vehicle to Grid Scheduling of Electric Vehicle Aggregator for Improved Market Operations

Large-scale adoption of Electric Vehicles EVs would increase average electricity consumption and peak demand of electrical grid. In addition, uncoordinated charging of EV would make situation more severe and require network reinforcement. One of the potential solutions to this problem is peak load management through EVs coordinated charging. In this regard, this paper put forward Time-of-Use (TOU) price based Vehicle-to-Grid V2G scheduling strategy of EV Aggregator (EVA) with the aim to optimize EVs coordinated charging and earn monetary benefits for all stakeholders such as EV owners and System Operator (So). For this, Price-based Demand Response Program (PBDRP) is proposed to enhance the value of EV owners. State-of-Charge (SOC), TOU-PBDR and modulation of charging/discharging rate is considered for the pragmatic formulation of V2G scheduling problem of EVA. Simulation result highlights the effectiveness of the proposed model regarding peak load management and monetary benefits for all stakeholders. Moreover, this model offers regulation services to SO for supporting grid stability and thus avoid inevitable contingencies.