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Dynamic Pricing for Charging of EVs with Monte Carlo Tree Search
As electric vehicles (EVs) are slowly becoming a common occurrence on roads, commercial EV charging is becoming a standard commercial service. With this development, charging station operators are looking for ways to make their charging services more profitable or allocate the available resources optimally. Dynamic pricing is a proven technique to increase revenue in markets with heterogeneous demand. This paper proposes a Markov Decision Process (MDP)-based approach to revenue- or utilization- maximizing dynamic pricing for charging station operators. We implement the method using a Monte Carlo Tree Search (MCTS) algorithm and evaluate it in simulation using a range of problem instances based on a real-world dataset of EV charging sessions. We show that our approach provides near-optimal pricing decisions in milliseconds for large-scale problems, significantly increasing revenue or utilization over the flat-rate baseline under a range of parameters.
Dynamic Pricing for Charging of EVs with Monte Carlo Tree Search
As electric vehicles (EVs) are slowly becoming a common occurrence on roads, commercial EV charging is becoming a standard commercial service. With this development, charging station operators are looking for ways to make their charging services more profitable or allocate the available resources optimally. Dynamic pricing is a proven technique to increase revenue in markets with heterogeneous demand. This paper proposes a Markov Decision Process (MDP)-based approach to revenue- or utilization- maximizing dynamic pricing for charging station operators. We implement the method using a Monte Carlo Tree Search (MCTS) algorithm and evaluate it in simulation using a range of problem instances based on a real-world dataset of EV charging sessions. We show that our approach provides near-optimal pricing decisions in milliseconds for large-scale problems, significantly increasing revenue or utilization over the flat-rate baseline under a range of parameters.
Dynamic Pricing for Charging of EVs with Monte Carlo Tree Search
Jan Mrkos (Autor:in) / Robert Basmadjian (Autor:in)
2022
Aufsatz (Zeitschrift)
Elektronische Ressource
Unbekannt
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