Electric Vehicle (EV) in Home Energy Management to Reduce Daily Electricity Costs of Residential Customer

Abstract

Exploiting energy storage capacity of proliferating EVs in present power system may contribute to minimize adverse impact of EV charging and electricity operating costs of residential customers. This study investigates an electric vehicle (EV) charging/discharging strategy in home energy management system (HEMS) to evaluate economic benefit of different operation modes in dynamic pricing schemes. Three different operation modes i.e. grid-to-vehicle (G2V), vehicle-to-grid (V2G) and vehicle-to-home (V2H) and their relative financial advantage using single and dual EVs are investigated without affecting customer comfort of EV for driving. The proposed economic analysis is carried out for a single residential customer for one day. Numerical studies show that reducing electricity consumption from grid in peak pricing periods using V2H is more beneficial than V2G or G2V in term of economy as selling energy to the grid is technically inflexible and financially competitive.