Transactive Energy Management of PV-Based EV Integrated Parking Lots

Electric vehicles (EVs) are a viable alternative for a sustainable mode of transportation. A huge penetration of EVs in future will lead to increasing demand in commercial parking lots equipped with charging systems. Hence, this research area is being pursued meaningfully in recent years. This article proposes a transactive energy management system (EMS) for commercial parking lots equipped with EV charging system and rooftop PV system. Initially, the EMS is optimized with the objective of balancing charging demand with supply. To make the EMS more realistic, factors such as battery degradation cost and photovoltaic levelized cost of energy are considered. At the later stage, the EMS of each parking lot communicates the energy requirement and excess energy to the local trading agent to initiate the proposed transactive energy transaction mechanism. The double-sided auction bidding mechanism is price flexible and based on the valuation of the energy requirement of parking lots. For a system with six parking lots and 25 EVs in each parking lot, the proposed scheme results in cost savings in the range of 2% to 7% for different cases of fixed and variable feed-in tariff. The uncertainty analysis shows that the cost savings vary from a minimum of 2.41% to maximum 12.09% with an average of 6.11%. The case studies demonstrate the potential economic benefit of the proposed scheme.

Automated summary

This article introduces a transactive energy management system for commercial parking lots to balance charging demand with supply and achieve cost savings up to 12.09% through a double-sided auction bidding mechanism.