On Pricing Models for Electric Vehicle Charging

The greenhouse gas emissions from fossil-fuel-based vehicles are the primary reasons for air pollution in urban areas. Recently, Electric Vehicles (EVs) have been promoted globally for mitigating these emissions. However, the long charging time and the lack of an appropriate revenue model for the charging stations are the important bottlenecks in the mass adoption and development of charging infrastructure. This work proposes a set of charge-pricing models that improve the waiting time for EVs at the charging stations, increase the vehicles' service rate, and maintain the charging station's revenue for sustainability. The models leverage the fact that the charging speed of an EV battery decreases significantly when its State of Charge reaches a threshold value. The electricity grid load is also considered. The models are evaluated using numerical simulations. The simulation results show 17.2% and 6.3% increase in vehicles service rate and charging stations revenue, respectively, for the chosen parameters.