Multi-period Dynamic Optimization Model for Plug-in Hybrid Electric Vehicles and Electric Vehicles Charging Service Station

Abstract

Due to their advantages over conventional vehicles and incentive policies of governments over the world, plug-in hybrid electric vehicles (PHEVs) and electric vehicles (EVs) are rapidly penetrating in our society. Charging station network is the key infrastructure for the deployment of PHEVs and EVs in the future. In turn, charging service makes a new domain for doing business. In this paper, we propose a multi-period dynamic optimization model for charging service station. A dynamic nonlinear mathematical model for an objective function (i.e., maximum revenue) is built. A heuristic algorithm for narrowing search space is proposed to solve the problem of large curse of dimensionality. By using dynamic programming heuristic algorithm, the authors characterize the performance of optimal power allocation to PHEVs/EVs problem for PHEVs/EVs charging service station, and compare it with that of other methods. The simulation is completed using MATLAB. Results show that dynamic programming brings a means to improve operation efficiency in most of indicators.