Enabling Optimal Control Under Demand Elasticity for Electric Vehicle Charging Systems

Recent years have witnessed the proliferation of electric vehicles (EVs) that enable environment-friendly commuting and traveling. However, the increasing number of EVs inevitably create massive charging demands that are challenging to satisfy. Oftentimes in practice, EVs have to wait in queues for a long time outside charging stations before chargers become available. To address this challenge, we fully capture the elasticity of EVs’ charging demands in response to the charging prices, and propose a dynamic charging pricing mechanism that jointly controls the lengths of the demand queues at multiple charging stations and maximizes the charging platform’s long-term profit for offering charging services. Clearly, such an approach is more feasible than the financially and temporally expensive way of constructing extra charging facilities. Technically, we augment the Lyapunov stochastic optimization technique to decompose the challenging long-term decision-making problem into a series of single-time-slot optimization programs which require zero knowledge of future system parameters. However, due to the correlation of charging demands among different stations, the aforementioned optimization program in each time slot is non-convex. We handle the non-convexity by jointly constructing independent sets of charging stations and adapting the block coordinate descent method to iteratively obtain approximately optimal charging prices. Through rigorous theoretical analysis and extensive simulations based on the real-world dataset in the Chinese city Shenzhen which consists of 4000 taxis and 171 charging stations, we demonstrate that our control policy ensures an arbitrarily close-to-optimal profit with a flexible trade-off between the profit and queue lengths, has a low computational complexity, and requires zero knowledge of future system dynamics.