Electric Vehicle Charging Stations With Renewable Power Generators: A Game Theoretical Analysis

Abstract

In this paper, we study the price competition among electric vehicle charging stations (EVCSs) with renewable power generators (RPGs). As electric vehicles (EVs) become more popular, a competition among EVCSs to attract EVs is inevitable. Thereby, each EVCS sets its electricity price to maximize its revenue by taking into account the competition with neighboring EVCSs. We analyze the competitive interactions between EVCSs using game theory, where relevant physical constraints such as the transmission line capacity, the distance between EV and EVCS, and the number of charging outlets at the EVCSs are taken into account. We show that the game played by EVCSs is a supermodular game and there exists a unique pure Nash equilibrium for best response algorithms with arbitrary initial policy. The electricity price and the revenue of EVCSs are evaluated via simulations, which reveal the benefits of having RPGs at the EVCSs.