An Optimal Charging and Discharging Schedule to Maximize Revenue for Electrical Vehicle

Vehicle to grid (V2G) is a feasible solution that enables Electrical Vehicles (EVs) to serve as either fast-responding storage devices or generators to grid system, providing a low-cost energy production alternative which benefits electricity supplier. A coordinated schedule in charging and discharging can potentially allow the electrical vehicle owners to benefit from the revenue gain, and thus increase the participation rate of EV owners in V2G. This paper presents a linear programming model that produces an optimized charging-discharging schedule for EV owners while accommodating constraints in travel requirement, battery maintenance and degradation cost. The proposed model is flexible to cater for individual driving patterns by allowing the owners to set their preference on parking and on-road time according to their itinerary. Simulations are carried out to evaluate the performance of the optimized charging schedule of the proposed model for continuous or fragmented short and long-distance settings. The optimized schedules obtained from the proposed model perform better than the uncoordinated schedules with a higher return of revenues for all the case studies under consideration. The proposed model shows 250% improvement in individual revenue gain for short distance traveller who follows the optimized schedule as compared to uncoordinated charging-discharging profile. The proposed model can also precisely estimate the driving demand of EV owners and reserve adequate amount of battery charge before each trip.