Optimal power dispatching for a grid-connected electric vehicle charging station microgrid with renewable energy, battery storage and peer-to-peer energy sharing
Lindiwe Bokopane, K. Kusakana, Herman Vermaak, Andrew Hohne
Abstract
The paper proposes an optimization approach and a modeling framework for a PV-Grid-integrated electric vehicle charging station (EVCS) with battery storage and peer-to-peer vehicle charging strategies. The main objective of the paper is to optimize the system for reliability and profitability while minimizing operational costs. The model considers factors such as energy demand, grid stability, battery health, and charging costs to efficiently utilize resources. A notable aspect of the proposed model is the introduction of a peer-to-peer energy sharing mechanism. Prosumers are allowed to trade energy with each other, enabling efficient utilization of resources and fostering a collaborative energy ecosystem. The dynamic power demand and pricing environment facilitate fair and optimized energy exchanges. The paper outlines the development of a mathematical algorithm formulation for the proposed model and validates its effectiveness and performance using a real-world case study conducted at Nelson Mandela University in South Africa. This comprehensive approach considers daily varying weather and load conditions, to ensure a realistic analysis of system performance and economic feasibility. The simulation results demonstrate significant energy demand cost savings, with a 38.14 % reduction considering time-of-use tariffs, and a 30.5 % reduction in maximum demand through optimal control and conducts a detailed techno-economic analysis over a 20-year period. The results indicate substantial reductions in grid costs and a break-even point within 8 years, highlighting the economic advantages of the optimization model. Furthermore, the results demonstrate significant cost savings, including energy demand cost savings and time-of-use savings.