Undergraduate Thesis Toy Model: Electric Vehicle Charging Right Trading

Published in IEEE Transactions on Smart Grid, 2022

Electric Vehicle Charging Right Trading

Research Introduction

This research was my undergraduate thesis project, which we later recorded in video format so I wouldn’t forget it. It’s a somewhat theoretical yet practical study that comes to mind every National Day holiday when I see electric vehicles queuing on highways. The project involved Java programming, queuing theory derivations, and economic principles, making it excellent thesis training even though it wasn’t addressing a particularly trending topic.

Research Overview

With the increasing penetration of electric vehicles (EVs), uncoordinated charging and the resulting chaos, disorder, and long waiting times at charging stations will become increasingly problematic. An EV Charging Right (CR) is defined as the right to reserve a predefined charging service. By purchasing CRs, EVs can reduce their charging waiting time, while CR pricing can guide EVs toward optimized charging behaviors.

In this study, we:

  • Defined the concept of Charging Rights
  • Proposed a Charging Right Trading Mechanism (CRM)
  • Analyzed the effectiveness of CRM in reducing waiting times and mitigating congestion

In the proposed mechanism, EVs can purchase CRs in advance, which are then used to estimate waiting times and update charging prices. We utilized queue theory for waiting time estimation, considering for the first time the impact of disclosing queue states at charging stations. The simulation results verified both the accuracy of our waiting time estimation methods and the effectiveness of the proposed mechanism.

Resources

Personal Reflection

This project represents an early attempt to apply theoretical frameworks to real-world transportation electrification problems. While it’s a simplified model, it addresses fundamental issues in EV infrastructure that continue to be relevant as EV adoption increases. The experience of combining programming, mathematical modeling, and economic theory provided valuable interdisciplinary training that has influenced my later research directions.

Citation

R. Lyu, Y. Gu and Q. Chen, “Electric Vehicle Charging Right Trading: Concept, Mechanism, and Methodology,” in IEEE Transactions on Smart Grid, vol. 13, no. 4, pp. 3094-3105, July 2022, doi: 10.1109/TSG.2022.3157814.