Carsharing operators, which rent out electric vehicles for minutes or hours, lose money on idle vehicles. We develop a model that allows carsharing operators to offer the storage of these vehicles on operating reserve markets (market for quickly rampable back-up power sources that replace for instance failing power plants). We consider it a dispatch and pricing problem with the tradeoff between the payoffs of offering vehicles for rental and selling their storage. This is a problem of stochastic nature taking into account that people can rent electric vehicles at any time. To evaluate our model we tracked the location and status of 350 electric vehicles from the carsharing company Car2Go and simulated the dispatch in the Dutch market. This market needs to be redesigned for optimal use of storage. We make recommendations for the market redesign and show that carsharing operators can make substantial additional profits in operating reserve markets.
|Original language||English (US)|
|Title of host publication||Proceedings of the 50th Annual Hawaii International Conference on System Sciences, HICSS 2017|
|Editors||Tung X. Bui, Ralph Sprague|
|Publisher||IEEE Computer Society|
|Number of pages||7|
|State||Published - 2017|
|Event||50th Annual Hawaii International Conference on System Sciences, HICSS 2017 - Big Island, United States|
Duration: Jan 3 2017 → Jan 7 2017
|Name||Proceedings of the Annual Hawaii International Conference on System Sciences|
|Conference||50th Annual Hawaii International Conference on System Sciences, HICSS 2017|
|Period||1/3/17 → 1/7/17|
Bibliographical notePublisher Copyright:
© 2017 Proceedings of the Annual Hawaii International Conference on System Sciences. All rights reserved.