A holistic system for enhanced fair value compensation for automated participation of EV in a Peak Demand Event

Automated Participation of EV in a Peak Demand Event, is relatively a new area in smart grid. An Independent System Operator (ISO) will control such operation. Since the battery lifespan is a function of number of cycles the battery is charged or discharged, and temperature variation during each cycle, the participating EV driver will need to learn about the number of cycles his EV battery is charged and discharged by the ISO to discover if incentive offered by the ISO is a fair value against depreciation of the EV battery so caused. This paper presents a smart solution for Fair Value Compensation (FVC) in such a scenario. It also builds on our previous work to include asset protection; thus if specific charge/discharge patterns, that violates user's policy or damage the health of battery are detected, it will initiate a trigger that will prohibit or abort charge discharge to prevent any damage to the battery. Such anomalous behavior will also be sent to the EV driver.