Multiple Vickrey auctions for sustainable electric vehicle charging

Konstantina Valogianni, Alok Gupta, Wolfgang Ketter, Soumya Sen, Eric van Heck

Research output: Chapter in Book/Report/Conference proceedingConference contribution

Abstract

Electric vehicles (EVs) are important contributors to a sustainable future. However, uncontrolled EV charging in the smart grid is expected to stress its infrastructure, as it needs to accommodate extra electricity demand coming from EV charging. We propose an auction mechanism to optimally schedule EV charging in a sustainable manner so that the grid is not overloaded. Our solution has lower computational complexity, compared to state-of-the-art mechanisms, making it easily applicable to practice. Our mechanism creates electricity peak demand reduction, which is important for improving sustainability in the grid, and provides optimized charging speed design recommendations so that raw materials are not excessively used. We prove the optimal conditions that must hold, so that different stakeholder objectives are satisfied. We validate our mechanism on real-world data and examine how different trade-offs affect social welfare and revenues, providing a holistic view to grid stakeholders that need to satisfy potentially conflicting objectives.

Original languageEnglish (US)
Title of host publication40th International Conference on Information Systems, ICIS 2019
PublisherAssociation for Information Systems
ISBN (Electronic)9780996683197
StatePublished - Jan 1 2020
Event40th International Conference on Information Systems, ICIS 2019 - Munich, Germany
Duration: Dec 15 2019Dec 18 2019

Publication series

Name40th International Conference on Information Systems, ICIS 2019

Conference

Conference40th International Conference on Information Systems, ICIS 2019
CountryGermany
CityMunich
Period12/15/1912/18/19

Bibliographical note

Publisher Copyright:
© 40th International Conference on Information Systems, ICIS 2019. All rights reserved.

Copyright:
Copyright 2020 Elsevier B.V., All rights reserved.

Keywords

  • Electric mobility
  • Green IS
  • Intelligent agents
  • Smart markets
  • Sustainability

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