Optimizing electric vehicles charging through smart energy allocation and cost-saving

TL;DR

This paper presents a mathematical optimization model for smart EV charging stations that efficiently allocates power to minimize costs and energy waste, especially effective with many EVs present.

Contribution

It introduces a novel comprehensive mathematical model for optimizing EV charging station management and energy allocation.

Findings

The model effectively reduces charging costs.

Simulation results show improved energy efficiency.

Performance scales well with increased EV numbers.

Abstract

As the global focus on combating environmental pollution intensifies, the transition to sustainable energy sources, particularly in the form of electric vehicles (EVs), has become paramount. This paper addresses the pressing need for Smart Charging for EVs by developing a comprehensive mathematical model aimed at optimizing charging station management. The model aims to efficiently allocate the power from charging sockets to EVs, prioritizing cost minimization and avoiding energy waste. Computational simulations demonstrate the efficacy of the mathematical optimization model, which can unleash its full potential when the number of EVs at the charging station is high.