2015/05/24 by Farshad Rassaei, Rassaei, Farshad, Wee-Seng Soh +3
Engineering · #Electric Vehicles and Infrastructure #Transportation and Mobility Innovations #Smart Grid Energy Management
paper · pdf · doi:10.48550/arxiv.1505.06505
Plug-in electric vehicles (PEVs) can significantly increase the elasticity of\nresidential electricity demand. This elasticity can be employed to shape the\ndaily aggregated electricity demand profile of a system comprised of a large\nnumber of residential PEVs' users sharing one electricity retailer or an\naggregator. In this paper, we propose a joint demand shaping and altering\nalgorithm for managing vehicle-to-grid (V2G) enabled PEVs' electricity\nassignments (charging and discharging) in order to diminish the overall\nelectricity procurement costs for a retailer bidding to two-settlement\nelectricity markets, i.e., a day-ahead (DA) and a real-time (RT) market. This\napproach is decentralized, scalable, fast converging and does not violate\nusers' privacy. Our simulations' results demonstrate significant overall cost\nsavings (up to 28 %) for a retailer bidding to an operational electricity\nmarket by using our proposed algorithm. This becomes even more salient when the\npower system is integrating a large number of intermittent energy resources\nwherein RT demand altering is crucial due to more likely contingencies and\nhence more RT price fluctuations and even more so-called \black swan\nevents. Lower electricity procurement cost for a retailer finally makes it\nable to offer better deals to customers and expand its market capacity. This\nimplies that customers can enjoy lower electricity bills as well.\n