Dynamic Pricing for Charging of EVs with Monte Carlo Tree Search
The result's identifiers
Result code in IS VaVaI
<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F68407700%3A21230%2F22%3A00359745" target="_blank" >RIV/68407700:21230/22:00359745 - isvavai.cz</a>
Result on the web
<a href="https://doi.org/10.3390/smartcities5010014" target="_blank" >https://doi.org/10.3390/smartcities5010014</a>
DOI - Digital Object Identifier
<a href="http://dx.doi.org/10.3390/smartcities5010014" target="_blank" >10.3390/smartcities5010014</a>
Alternative languages
Result language
angličtina
Original language name
Dynamic Pricing for Charging of EVs with Monte Carlo Tree Search
Original language description
As electric vehicles (EVs) are slowly becoming a common occurrence on roads, commercial EV charging is becoming a standard commercial service. With this development, charging station operators are looking for ways to make their charging services more profitable or allocate the available resources optimally. Dynamic pricing is a proven technique to increase revenue in markets with heterogeneous demand. This paper proposes a Markov Decision Process (MDP)-based approach to revenue- or utilization- maximizing dynamic pricing for charging station operators. We implement the method using a Monte Carlo Tree Search (MCTS) algorithm and evaluate it in simulation using a range of problem instances based on a real-world dataset of EV charging sessions. We show that our approach provides near-optimal pricing decisions in milliseconds for large-scale problems, significantly increasing revenue or utilization over the flat-rate baseline under a range of parameters.
Czech name
—
Czech description
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Classification
Type
J<sub>SC</sub> - Article in a specialist periodical, which is included in the SCOPUS database
CEP classification
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OECD FORD branch
10201 - Computer sciences, information science, bioinformathics (hardware development to be 2.2, social aspect to be 5.8)
Result continuities
Project
<a href="/en/project/EF16_019%2F0000765" target="_blank" >EF16_019/0000765: Research Center for Informatics</a><br>
Continuities
P - Projekt vyzkumu a vyvoje financovany z verejnych zdroju (s odkazem do CEP)
Others
Publication year
2022
Confidentiality
S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů
Data specific for result type
Name of the periodical
Smart Cities
ISSN
2624-6511
e-ISSN
2624-6511
Volume of the periodical
5
Issue of the periodical within the volume
1
Country of publishing house
CH - SWITZERLAND
Number of pages
18
Pages from-to
223-240
UT code for WoS article
000774270600001
EID of the result in the Scopus database
2-s2.0-85125908894