Undergraduate YPEC 2022

UG10 – Strategy of EV Charging: Optimization of Supply and Demand

Achieving decarbonization gal, the benefits brought by electric vehicles (EV) are huge. The development of EV and its complements becomes more matures. EV has longer endurance and the stability is boosted. However, there is always a bottleneck inside the development of EV. Unlike petroleum vehicles, the charging process of EV takes time and the user needs to plan well for the charging so that it can support the next driving demand. Engineers always want to find an optimal solution for the charging strategy with limited charging slots. The electric price is fluctuating in many places, for both purchasing and selling. EVs can sell the electricity back to the grid when the price is high. Given the above backgrounds, we plan to make an optional plan in order to fulfil these 2 conditions: 1) minimizing the operation costs of the power provider, and 2) maximizing the charging demand of drivers. Data like electricity price, amount of power generated by renewable energy like solar power in the building and user demand for charging will be inputted to the system. Merging with the latest technology of Internet of Things (IoT), we aim to make a strategy suitable for both charging suppliers and demanders.