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Pricing Strategy for Energy Supplement Services of Hybrid Electric Vehicles Considering Bounded-Rationality and Energy Substitution Effect

  • Shuying Lai
  • , Jing Qiu*
  • , Yuechuan Tao
  • , Junhua Zhao*
  • *Corresponding author for this work

Research output: Journal Publications and ReviewsRGC 21 - Publication in refereed journalpeer-review

Abstract

Electric vehicles (EVs) have experienced rapid growth in recent years due to the concern about climate change. Meanwhile, hydrogen has become a versatile energy carrier that can be used in the EV industry. Thus, apart from pure EVs, hydrogen fuel cell EVs (FCEVs) and plug-in hybrid hydrogen and electric vehicles (PH2EVs) are also promising solutions for replacing gasoline vehicles. With the penetration of these alternative fuel vehicles, it is necessary to formulate proper strategies to guide EV charging and refueling. Hence, in this paper, a dynamic pricing strategy for integrated electricity charging and hydrogen refueling stations (IEHSs) is proposed to guide the charging/refueling decisions of a variety types of EVs and ensure the operation of IEHSs, power distribution network (PDN), and gas network (GN). First, a tri-level dynamic pricing strategy is proposed considering the interactions among EVs, IEHSs, and both PDN and GN. Second, the bounded rationality of EVs in station selection is modeled based on cognitive theory. Third, energy substitution for PH2EVs between electricity charging and hydrogen refueling is analyzed. Simulation results show that the proposed pricing strategy can increase the utility of EVs, enhance the profit of IEHSs, and mitigate the congestion of both PDN and GN. © 2022 IEEE.
Original languageEnglish
Pages (from-to)2973-2985
JournalIEEE Transactions on Smart Grid
Volume14
Issue number4
Online published15 Nov 2022
DOIs
Publication statusPublished - Jul 2023
Externally publishedYes

UN SDGs

This output contributes to the following UN Sustainable Development Goals (SDGs)

  1. SDG 7 - Affordable and Clean Energy
    SDG 7 Affordable and Clean Energy

Research Keywords

  • bounded rationality
  • energy substitution
  • integrated electricity charging and hydrogen refueling stations
  • plug-in hybrid hydrogen and electric vehicles%
  • Pricing strategy

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