A Decentralized Incentive-Based Pricing and Energy Management Strategy for Multi-Energy Electric Vehicle Charging Stations

The increasing population of Electric Vehicles (EVs) requires a higher number of EV Charging Stations (EVCS). The integration of renewable generation in EVCS helps to achieve the goal of green energy. The random behaviour of EVs and uncertainty in renewable generation make EVCS energy management difficult. This paper proposes a pricing, energy management strategy and a charging coordination algorithm to address these issues. The strategy develops an incentive-based dynamic pricing for EV services based on the energy economic assessment of EVCS. The strategy introduces an uncertainty factor and an error factor to estimate the renewable generation and power bid precisely for participating in the day-ahead energy market to purchase energy for EVCS. The proposed charging coordination algorithm manages the EV services in real time and optimizes the EV cost and EVCS profit. A Battery Energy Storage (BES) is integrated into EVCS, and an algorithm is proposed to coordinate its operation to provide stable power by managing the renewable power fluctuations. The results show that the proposed strategy manages the EVCS demand efficiently and reduces the burden on the grid. The proposed coordination algorithm increases EV profit by 21.95 % and the EVCS profit increases by 32.35%.