Energy management strategies for solar photovoltaic-based EV parking lots with consideration of battery degradation cost

Abstract The number of electric vehicles has increased due to emission concerns associated with conventional transportation systems. Therefore, the energy management of charging demand has been quite consequential in recent times. This work has proposed a strategy for managing the energy demand of electric vehicles by using solar-based generation and transaction of excess energy between parking lots. In this work, a flexible price-based energy exchange model is developed for energy management between EV parking lots and solar-based renewable energy sources, and a double-sided bidding-based energy transaction is proposed to minimize the cost associated with charging EVs and the cost associated with battery degradation due to the participation of EVs in energy exchange via the V2G approach. The problem has been implemented on the IEEE-33 bus system, which has six parking lots, and each lot caters to 100 electric vehicles. The results have shown that the proposed strategy has reduced the charging cost by 11.8% for the proposed case, but for the base case, it is 4.8%. The work has also considered dynamic and constant tariffs, and the results have shown that the proposed strategy has reduced the charging cost for both cases by 2% and 9.4%, respectively. This work has also considered the effect of the battery degradation cost on the charging cost.