A novel dynamic pricing scheme for a large-scale electric vehicle sharing network considering vehicle relocation and vehicle-grid-integration

Shuyun Ren, Fengji Luo, Lei Lin, Shu Chien Hsu, Xuran Ivan LI

Research output: Journal article publicationJournal articleAcademic researchpeer-review

19 Citations (Scopus)

Abstract

With promising benefits such as traffic emission reduction, traffic congestion alleviation, and parking problem solving, Electric Vehicle (EV)-sharing systems have attracted large attentions in recent years. Different from other business modes, customers in sharing economy systems are usually price sensitive. Therefore, it is possible to shift the usage of shared EVs through a well-designed Dynamic Pricing Scheme (DPS), with the objective of maximizing the system operator's total profit. In this study, we propose a novel DPS for a large-scale EV-sharing network to address the EV unbalancing issue and satisfy the vehicle-grid-integration (VGI) service based on accurate station-level demand prediction. The proposed DPS is formulated as a complex optimization problem, which includes two Price Adjustment Level (PAL) decision variables for every origin-destination pair of stations. The two PALs are employed to affect the EV-sharing demand and travel time between each station pair, respectively. Physical and operational constraints from both EV demand and VGI service aspects are also included in the proposed model. Two case study are conducted to validate the effectiveness of the proposed method.

Original languageEnglish
Pages (from-to)339-351
Number of pages13
JournalInternational Journal of Production Economics
Volume218
DOIs
Publication statusPublished - Dec 2019

Keywords

  • Demand prediction
  • Dynamic pricing scheme
  • Electric vehicle-sharing
  • Vehicle relocation
  • Vehicle-grid-integration

ASJC Scopus subject areas

  • Business, Management and Accounting(all)
  • Economics and Econometrics
  • Management Science and Operations Research
  • Industrial and Manufacturing Engineering

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