Research Overview
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Graduate student and Resnick Fellow, Zachary Lee, is a member of a research team that has recently proposed a pricing scheme for large EV charging systems that provably captures the impact each charging session has on total cost for the system. The results of this study are summarized in the publication, "Pricing EV Charging Service with Demand Charge", and supported by simulations using real data collected from charging facilities at Caltech and JPL. The team's results suggest that costs can be allocated to individual charging sessions to precisely capture energy costs, demand charge, and congestion.
Scientific Achievement
We propose a pricing scheme for large EV charging systems which provably captures the impact each charging session has on total cost for the system.
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Significance and Impact
This work is a first step toward practical pricing schemes which encourage charging flexibility and reduce overall costs.
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Technical Details
- Prices are based on the dual of the minimum cost scheduling problem
- Revenue adequacy is guaranteed if charging is scheduled optimally
- Online model predictive control achieves within 10% of optimal costs.
Zachary J. Lee, John Z.F. Pang, Steven H. Low (2020) Pricing EV charging service with demand charge. Electric Power Systems Research, Volume 189. DOI:10.1016/j.epsr.2020.106694
Contact: Steven H. Low