Coordinated Charging of Electric Vehicles for Reducing Operation Cost Under TOU Electricity Prices

Abstract

In this work, a case study is carried out by considering time-of-use (TOU) price plan set by Ontario Energy Board (OEB), Canada with an objective of minimizing operation cost. The operation cost is compared for uncoordinated (mode 1), charging only (mode 2) and coordinated charging/discharging (mode 3) modes respectively for both winter and summer TOU rates. Impact of battery charging/discharging efficiencies and incentives of V2G energy prices on these results is also discussed. Results show that when vehicle to grid (V2G) prices are made 1.5 times of electricity price for peak hours with battery cost half of current price, reduction in cost for 80 EVs on adopting mode 3 over mode 1 and 2 with 0.95 efficiency is 79.23% and 62.36% with winter TOU rates and 46.73% and 19.57% with summer TOU rates respectively.