An Economic Evaluation of the Coordination Between Electric Vehicle Storage and Photovoltaic in Residential Home Under Real-Time Pricing

Abstract

Presently, the development of grid-interactive homes (GIH) is becoming an additional wing for the extension of power system. The optimal coordination of residential grid-interactive solar photovoltaic (PV) and electric vehicle (EV) are presented in this paper. Optimal operation of local generation is framed as mixed-integer linear programming (MILP). Owners of GIH can utilize their local generation smartly, to get more benefits economically by reducing the operational cost of GIH in order to adequate the energy demand. A pioneer work of this paper is to utilize demand-side management (DSM) with real-time pricing (RTP) so that GIH has suitable decisions for energy planning and can find optimal capacity for PV with EV. The integrated PV output is formulated by considering different real parameters, so that accurate results can be achieved. Moreover, the optimal charge/discharge of EV can give additional economic support to owners of GIH. Reduction in the total cost of GIH can be noticed from the obtained results due to optimal operations of PV, EV and grid.