Strategic EV Charging Optimization Using Stackelberg and Non-Cooperative Game Models for Cost Efficiency and Profit Maximization with Renewable Energy and Battery Storage

Publisher

With declining costs of Battery Energy Storage Systems (BESS) and Renewable Energy (RE) sources such as Photovoltaics (PV) and Wind Turbines (WT), their integration into Electric Vehicle Charging Stations (EVCS) has become more viable. However, without optimal power distribution, unnecessary energy purchases from the grid can occur, reducing EVCS owner profits and increasing EV charging costs. This paper proposes a framework that integrates Stackelberg and non-cooperative game theory for a comprehensive EVCS with BESS and RE, including PV and small WT, to maximize EVCS owner profits while accommodating EV preferences to minimize charging costs. The proposed method is compared with a conventional approach from existing research in terms of profitability, achieving nearly 7260 cents compared to around 829 cents for the conventional method, highlighting its superior performance. Additionally, the impact of different average unit profit settings is analyzed, offering insights into optimal profit margins based on EVCS owner objectives. The study further demonstrates the advantages of non-cooperative game theory as a decentralized approach, achieving better outcomes for both EVCS owners and EVs, with the EVs charging cost reduced by nearly 2000 cents and the profit for EVCS owners increased by approximately 1400 cents compared to the centralized approach. Finally, the economic benefits of integrating BESS into EVCS are assessed, revealing notable advantages compared to scenarios without BESS. For instance, with 50 EVs, the profit of an EVCS with BESS is approximately 600 cents lower than the scenario without BESS. However, as the number of EVs increases to 60, the profit of the EVCS with BESS surpasses the other scenario by nearly 1000 cents, highlighting the value of BESS installation under high EV energy demand conditions.

Publisher: Smart Grids and Sustainable Energy

Article number: 26

ISSN (Electronic): 27318087

Keywords

  • Battery energy storage system
  • Electric vehicle
  • Non-cooperative game theory
  • Photovoltaic
  • Small wind turbine
  • Stackelberg game

ASJC Scopus subject areas

  • Economics and Econometrics
  • Energy (miscellaneous)
  • Renewable Energy, Sustainability and the Environment
  • Electrical and Electronic Engineering

Publication year

2025

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