Optimal Utilization of Electric Vehicles in the Parking Lot of the Faculty Building to Increase Social Welfare

This paper strives to investigate the impact of integrating charging stations in the parking lot of the faculty building with an installed photovoltaic power plant (PV) and battery energy storage system (BESS) to maximize social welfare. The integration of charging stations in the parking lot of business buildings would enable savings for owners of electric vehicles (EVs) who live in residential buildings and have to charge their EVs at public charging stations. On the other hand, by integrating charging stations into the parking lot, business buildings could reduce their electricity costs because they use EVs as BESS. Accordingly, the optimization model was developed in the GAMS environment by applying MILP formulation. The research was conducted according to the current market conditions and for a newly proposed market model for charging and discharging batteries of EVs in the parking lot of business buildings. The results show the need to find the optimal prices for charging and discharging batteries of EVs by applying multi-level optimization.