A stochastic value estimation tool for electric vehicle charging points

• Published in: Energy (Oxford) 2021-07, Vol.227, p.120335, Article 120335
• Main Authors: Poyrazoglu, Gokturk, Coban, Elvin
• Format: Article
• Language: English
• Subjects: case studies; Charging point; consumer satisfaction; Customer satisfaction; data collection; Electric vehicle charging; Electric vehicle charging stations; Electric vehicles; energy; energy use and consumption; Performance measurement; Power consumption; Shopping malls; Simulation; Stochastic
• ISSN: 0360-5442; 1873-6785
• DOI: 10.1016/j.energy.2021.120335

A stochastic value estimation tool serves as a planning tool with embedded modules for electrical and financial valuation of electric vehicle charging points. The tool is developed in stochastic nature for selected service and technology options. The tool is also valuable as a research tool to create a data set for a possible charging station with details of vehicle brands, state-of-charge at the arrival, charge duration, and waiting time. A case study for one of the biggest shopping malls in Istanbul, Turkey, where welcomes 350–400 electric vehicles per day is analyzed. The results are discussed on performance metrics such as the average waiting time in the queue, utilization of the station and each socket, profit, customer satisfaction, energy, and power consumption. •A simulation tool capturing the electrical and financial valuation of EV charging is developed.•Average waiting time decreases exponentially with increasing number of charging sockets.•Average utilization reduces to 60% from 90% when the number of sockets decreases to 3 from 9.•Smart charging algorithm is enough to manage the system instead of using the worst-case analysis scenario.