On the Values of Vehicle-to-Grid Electricity Selling in Electric Vehicle Sharing

AboutSectionsView PDF ToolsAdd to favoritesDownload CitationsTrack CitationsPermissionsReprints ShareShare onFacebookTwitterLinked InEmail Go to Section HomeManufacturing & Service Operations ManagementVol. 23, No. 2 On the Values of Vehicle-to-Grid Electricity Selling in Electric Vehicle SharingYiling Zhang , Mengshi Lu , Siqian Shen Yiling Zhang , Mengshi Lu , Siqian Shen Published Online:30 Mar 2020https://doi.org/10.1287/msom.2019.0855AbstractProblem definition: We study electric vehicle (EV) sharing systems and explore the opportunity for incorporating vehicle-to-grid (V2G) electricity selling in EV sharing. Academic/practical relevance: The problem involves complex planning and operational decisions, as well as multiple sources of uncertainties. The related optimization models impose significant computational challenges. The potential value of V2G integration may have far-reaching impacts on EV sharing and sustainability. Methodology: We formulate the problem as a two-stage stochastic integer linear program. In the first stage, we optimize decisions related to service planning, the capacity of parking and charging facilities, EV battery capacities, and EV allocation in each zone under uncertain time-dependent trip demand and electricity prices. In the second stage, for a realized demand–price scenario, we construct a time-and-charging-status expanded transportation network and optimize operations of the shared vehicle fleet, EV battery charging, and V2G selling. We develop Benders decomposition and scenario decomposition approaches to improve computational efficiency. A linear-decision-rule-based approximation approach is also provided to model dynamic operations. Results: Via testing instances based on real-world and synthetic data, we demonstrate the computational efficacy of our approaches and study the benefits of integrating V2G in EV sharing from the service provider, consumer, and socioenvironmental aspects. Managerial implications: V2G integration can significantly increase the profitability of EV sharing and the quality of service. It results in the preference of larger EV fleets and battery capacities, which further leads to various socioenvironmental benefits. The benefit of V2G can still prevail, even with more severe battery degradation and can be more significant when combined with (i) more stringent service levels, (ii) more traffic congestion, or (iii) urban spatial structures with concentrated business/residential areas. V2G integration (complemented by fast charging technology) can also benefit carshare users through improvement in the quality of service. Previous Back to Top Next FiguresReferencesRelatedInformationCited bySurvey of charging management and infrastructure planning for electrified demand-responsive transport systems: Methodologies and recent developments8 August 2022 | European Transport Research Review, Vol. 14, No. 1A Shared Mobility Based Framework for Evacuation Planning and Operations under Forecast Uncertainty26 October 2022 | IISE TransactionsSmart Charging of Electric Vehicles: An Innovative Business Model for Utility FirmsOwen Q. Wu, Şafak Yücel , Yangfang (Helen) Zhou16 November 2021 | Manufacturing & Service Operations Management, Vol. 24, No. 5Urban Bike Lane Planning with Bike Trajectories: Models, Algorithms, and a Real-World Case StudySheng Liu, Zuo-Jun Max Shen, Xiang Ji27 October 2021 | Manufacturing & Service Operations Management, Vol. 24, No. 5Incentivized Self-Rebalancing Fleet in Electric Vehicle Sharing18 May 2021 | IISE TransactionsA static relocation strategy for electric car-sharing systems in a vehicle-to-grid framework27 December 2020 | Transportation Letters, Vol. 13, No. 3Robust vehicle-to-grid power dispatching operations amid sociotechnical complexitiesApplied Energy, Vol. 281Integrating Price-Incentive and Trip-Selection Policies to Rebalance Shared Electric VehiclesZihao Jiao, Lun Ran, Xin Liu, Yuli Zhang, Robin G. Qiu8 December 2020 | Service Science, Vol. 12, No. 4 Volume 23, Issue 2March–April 2021Pages 267-545, C2 Article Information Supplemental Materials Metrics Information Received:May 08, 2018Accepted:September 13, 2019Published Online:March 30, 2020 Copyright © 2020, INFORMSCite asYiling Zhang, Mengshi Lu, Siqian Shen (2020) On the Values of Vehicle-to-Grid Electricity Selling in Electric Vehicle Sharing. Manufacturing & Service Operations Management 23(2):488-507. https://doi.org/10.1287/msom.2019.0855 Keywordssustainable transportationenergy systemselectric vehicle sharingvehicle-to-gridstochastic integer programmingdecomposition algorithmsPDF download