Joint operation of a fast-charging EV hub with a stand-alone independent battery storage system under fairness considerations
<|reference_start|>Joint operation of a fast-charging EV hub with a stand-alone independent battery storage system under fairness considerations: The need for larger-scale fast-charging electric vehicle (EV) hubs is on the rise due to the growth in EV adoption. Another area of power infrastructure growth is the proliferation of independently operated stand-alone battery storage systems (BSS), which is fueled by improvements and cost reductions in battery technology. Many possible uses of the stand-alone BSS are being explored including participation in the energy and ancillary markets, load balancing for renewable generations, and supporting large-scale load-consuming entities like hospitals. In this paper, we study a novel usage of the stand-alone BSS whereby in addition to participating in the electricity reserve market, it allows an EV hub to use a part of its storage capacity, when profitable. The hub uses the BSS storage capacity for arbitrage consequently reducing its operating cost. We formulate this joint operation as a bi-objective optimization model. We then reformulate it into a second-order cone Nash bargaining problem, the solution of which guarantees fairness to both the hub and the BSS. A sample numerical case study is formulated using actual prices of electricity and simulated data for the reserve market and EV charging demand. The Nash bargaining solution shows that both participants can benefit from the joint operation.<|reference_end|>
@article{paudel2024joint,
    title={Joint operation of a fast-charging EV hub with a stand-alone independent
  battery storage system under fairness considerations},
    author={Diwas Paudel, Luke Wolf and Tapas K. Das},
    journal={arXiv preprint arXiv:2404.16113},
    year={2024},
    archivePrefix={arXiv},
    eprint={2404.16113},
    primaryClass={eess.SY cs.SY}
}