Pricing of Flexibility Provisions from a Reinforced Electric Vehicle Charging Facility with DERs

A novel flexibility pricing model (FPM) is proposed in this paper to determine the service price of flexibility provided to the main grid, by an electric vehicle charging facility (EVCF) optimally reinforced with distributed energy resources (DERs). The proposed FPM seeks to achieve a targeted profit of an investor. A flexibility index is introduced to calculate the flexibility in the EVCF load, and hence determine the extent to which the EVCF is flexible, when equipped with DERs. The DER options considered for reinforcement of the EVCF are-energy storage systems (ESS) and rooftop photovoltaic (PV) generation. Case studies considering a 33 bus distribution system are presented and discussed to validate the proposed model.