Economic analysis of plug-in electric vehicle parking deck with dynamic pricing

Abstract

A large number of plug-in electric vehicle (PEV) parking decks connected to the power systems will bring up many problems which need to be addressed. An emerging issue is that a PEV parking deck needs a systematic optimal price reference for tomorrow's operation on electricity sale prices and parking fees for customers. This paper introduces a system including a price mechanism and three charging scenarios for different types of PEV parking decks to maximize their total revenue for the next 24 hours. Because different types of parking decks have various traffic behaviors (e.g., arrival and departure distribution), this system provides an exclusive price reference for each parking deck operator according to its historical traffic behaviors. First, the mathematical model of this system is introduced considering the real world constraints. Second, the case studies are performed to simulate the real world charging scenarios over 24 hours. The results provide the marginal electricity sale price for operators to decide the electricity sale price for customers in order to maintain the total revenue for tomorrow's operation. Finally, the expected total revenues of the next 24 hours are given by using three charging scenarios after the price decision has been made.