Strategic Integration of Battery Energy Storage Systems for Effective EV Charging Demand Management in Transactive Energy Markets

The increasing penetration of electric vehicles (EVs) and photovoltaic (PV) systems poses significant challenges to distribution grid performance and reliability. Battery energy storage systems (BESS) offer a promising solution to mitigate these challenges; however, most existing BESS optimization strategies fail to simultaneously enhance grid performance and maximize economic benefits for BESS owners.This research proposes an optimized BESS dispatch strategy that balances both grid performance and BESS bid pricing in the transactive energy (TE) market through a multi-criteria decision-making (MCDM) method. The strategy aims to reduce energy procurement costs and create a more favorable system for EV users by minimizing their charging expenses.Using the DIgSILENT PowerFactory power system software for modeling and simulation, the active and reactive power dispatch of BESS is optimized via a differential evolution (DE) algorithm. The experimental validation of the proposed approach demonstrates significant improvements in grid performance, reduced energy costs, and enhanced flexibility for distribution network operators (DNOs) in prioritizing either grid performance or financial considerations, or both.Overall, this novel approach provides an effective framework for DNOs to enhance grid performance while strategically incorporating the economic aspects of BESS, ultimately lowering EV charging costs compared to existing methods.