A Comprehensive Pricing-Based Scheme for Charging of Electric Vehicles

Electric vehicle (EV) has received a great attention of researchers due to the development of battery technology and environmental issues. The charging infrastructures and pricing are equally crucial for the widespread adaptation of EVs. This article presents a suitable pricing scheme for charging EVs in a competitive discrete-time dynamic market scenario, wherein multiple electric vehicle charging stations (EVCSs) adapt a comprehensive pricing model to maximize their profit. We study a pricing scheme for EV charging, where we use the updated information, such as EVs traffic distribution, locations of potential EVCSs, expected waiting time at each EVCS, grid energy cost at each EVCS, and the selfish behavior of EVs. A game-theoretic approach is used to find the equilibrium condition for each CS in a smart grid network in a noncooperative fashion. The decision criterion for EVs in the considered network is studied for static CSs. The Nash equilibrium profit of the CSs is obtained along with their prices at equilibrium.