Techno-Economic Analysis of Smart EV Charging for Expansion Planning Under Uncertainty

The ongoing electrification of transport is expected to lead to a significant load growth, thereby creating the need for network reinforcements, which may be ameliorated by new smart technologies such as the Smart Charging of Electric Vehicles. This paper presents the relation between key techno-economics of this technology such as flexibility, Option Value and investment cost, with the level of network reinforcement necessary to accommodate the uncertain future load growth. Furthermore, the concept of deferral and displacement of conventional network investment in the context of multi-stage expansion planning is formulated and analyzed. The conclusions underline the inverse relationship between Option Value and network reinforcement, and the importance of flexibility in deferring conventional reinforcement. Overall, in-depth sensitivity analyses recognize the impact that Smart Charging can have on generating economic savings in power systems.