Optimal dispatch schedule for a fast EV charging station with account to supplementary battery health degradation

Abstract: This paper investigates the usage of battery storage systems in a fast charging station (FCS) for participation in energy markets and charging electrical vehicles (EVs) simultaneously. In particular, we focus on optimizing the scheduling strategies to reduce the overall operational cost of the system over its lifetime by combining the model of battery degradation and energy arbitrage. We implement the battery degradation as a penalty term within an energy arbitrage model and show that the battery degradation plays an important role in the optimal energy dispatch scheduling of the FCS system. In this case study, with different penalty coefficients for the battery degradation penalty term, it is found that including the penalty of battery usage in the scheduling model will reduce the number of small charging/discharging cycles, thereby prolonging the battery lifetime, while maintaining near optimal revenue from grid services.