The IITRAM students Mr. Pushkar Patel, Mr. Harsh Kakani, developed the model under the guidance of Dr. Manish Chaturvedi from IITRAM and Dr. Naveen Kumar, IIITV
The IIRAM faculty led team of students developed a set of charge-pricing models that improve the waiting time for Electric Vehicles (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 (SoC) reaches a threshold value.
The Version-0 pricing model uses a fixed price per unit charge, which means that the price is proportional to the amount of charge pushed into the EV battery, irrespective of the time required to charge. The Version 1 pricing model aims to demotivate the EVs that plug in to charge very little (taking significantly more time) by introducing a mandatory and fixed base price. The Version-2 pricing model considers the non-linear speed of EV battery charging. It is known that the charging speed decreases drastically beyond the threshold. Hence, this version introduces a higher price for charging beyond the threshold.
