Plug-in electric vehicles charging with different electricity pricing strategies

Implementation of adjustable charging strategies has great potential to decrease the peak loads and is good for the grid scheduling. The electric vehicle users have the freedom to choose the charging time as well as different charging modes. In this paper, we propose a real-time electricity pricing scheme that leads to more economical and environmental profits comparing with the fixed-pricing and time-of-use pricing strategies. The users can minimize their total costs by adjusting the charging time and modes to meet their needs. Simulation results demonstrate that the real-time electricity pricing scheme can lead to significant reduction of the charging cost and provide an incentive mechanism for electric vehicle users to manage their energy consumption.