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Technical Paper

Benefits of Stochastic Optimisation with Grid Price Prediction for Electric Vehicle Charging

2017-03-28
2017-01-1701
The goal of grid friendly charging is to avoid putting additional load on the electricity grid when it is heavily loaded already, and to reduce the cost of charging to the consumer. In a smart metering system, Day Ahead tariff (DA) prices are announced in advance for the next day. This information can be used for a simple optimization control, to select to charge at cheapest times. However, the balance of supply and demand is not fully known in advance and the Real-Time Prices (RTP) are therefore likely to be different at times. There is always a risk of a sudden price change, hence adding a stochastic element to the optimization in turn requiring dynamic control to achieve optimal time selection. A stochastic dynamic program (SDP) controller which takes this problem into account has been made and proven by simulation in a previous paper.
Journal Article

Optimal Charging of Electric Vehicles using a Stochastic Dynamic Programming Model and Price Prediction

2015-04-14
2015-01-0302
The idea of grid friendly charging is to use electricity from the grid to charge batteries when electricity is available in surplus and cheap. The goal is twofold: to avoid putting additional load on the electricity grid and to reduce the cost to the consumer. To achieve this, a smart meter and a tariff with variable electricity prices has to be in place. In Day Ahead tariff (DA), prices are announced in advance for the next day, and this information can be used to select the cheapest times to charge the battery by the required amount. The optimization method is very simple, and it only has to be run once per day. However, the balance of supply and demand is not fully known in advance. Therefore Real Time Pricing (RTP) tariff supplies electricity at spot market rate depending on the current balance.
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