Economic Planning and Operation of EV Charging Infrastructure Participating in Electric Power Markets

Graduation Year

2024

Document Type

Dissertation

Degree

Ph.D.

Degree Name

Doctor of Philosophy (Ph.D.)

Degree Granting Department

Industrial and Management Systems Engineering

Major Professor

Tapas K. Das, Ph.D.

Committee Member

Lingling Fan, Ph.D.

Committee Member

Hadi Gard, Ph.D.

Committee Member

Balaji Padmanabhan, Ph.D.

Committee Member

Ankit Shah, Ph.D.

Keywords

Deep reinforcement Learning, Electricity market, EV charging, Nash bargain, Optimization under uncertainty, Transportation and power network nexus

Abstract

As electric vehicles (EVs) are becoming more common, there are not enough charging infrastructures to keep up with the projected EV charging demands. This necessitates investment from private enterprises in the charging infrastructure, along with additional government investments, to support the expected EV growth. The profit potential of the EV charging business will be crucial in attracting private enterprises to invest in the infrastructure. The profitability of these infrastructures depends on their location and effective operation. The charging infrastructure needs to be strategically placed and sized in the service area of interest. Once built, they need a robust strategy to efficiently manage the power from sources like electricity markets and battery storage systems (BSS). Furthermore, these infrastructures, as they grow in number, will need to dynamically adjust their charge prices to remain competitive in the EV charging marketplace. They can also cooperate with other power infrastructures, such as stand-alone BSS when available, to boost their profits.

The overarching goal of this dissertation is to develop models and solution approaches for economic planning and operations of EV charging infrastructures. The planning aspect includes determining optimal locations and sizes (number of charging stations) for charging infrastructure. The operational problem entails pricing for the EV charging power and effectively managing power sources such as the electricity markets, as well as in-house and third-party stand-alone independent battery storage systems. The insights gained from this dissertation will benefit multiple stakeholders: private enterprises by uncovering business opportunities in EV charging; electricity market operators by providing the potential surge in power demands due to EV adoption; and EV owners via the growth of reliable public charging infrastructure, ensuring seamless usage.

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