Revolutionizing EV Adoption: Enhancing User Participation through SOC Strategies Incorporating Degradation-Dependent Economic Model for Battery Swapping Stations

The slow deployment of charging infrastructure and weak power grid are major barriers to the widespread adoption of electric vehicles (EVs), particularly in developing countries. Battery swapping stations have emerged as a potential solution to accelerate transport electrification by offering a convenient, cost-effective, and sustainable way to recharge EVs. In this model, battery swapping station owners have invested in setting up the stations and want to increase user participation to recover their investment and make the business profitable. To achieve this, swapping stations can introduce different categories of EV users, such as daily earners, daily commuters, and inter-city travelers, and provide them with different plans tailored to their needs. In this paper, we propose a degradation-dependent economic model to extend battery cycle life and reduce investment costs for the station owner, while ensuring a fair and sustainable swapping cost for the users. We suggest state-of-charge strategies for each category of EV users and use the degradation model to calculate deterioration and add a degradation penalty component to create a fair swapping cost. We propose two models (linear and exponential) for the degradation penalty and conclude that daily earners and commuters should be penalized linearly, while inter-city travelers should be penalized exponentially. Our results demonstrate that introducing different plans tailored to the needs of different categories of EV users and applying the degradation-dependent economic model can increase user participation in battery swapping stations and help overcome the challenges of charging infrastructure and grid limitations. This can contribute to the wider adoption of EVs and the transition to a more sustainable transportation system.