Cost minimization control for smart electric car parks

The high demand side cost of electric vehicles (EVs) affects the wide use of EVs in practice. In this paper, a mathematical model is built to investigate the cost of the demand side by controlling EVs charging and discharging status, so that the demand side cost can be minimised under given tariffs. The battery degradation cost, the driving probability and the vehicleto-grid (V2G) rebates are considered in the model. The most economic charging and discharging strategy for each EV can be determined through global optimisation. Simulation studies demonstrate the cost reduction through optimization