Renewable Energy Optimization for Distributed EV Charging Stations Using HBA and Smart Contracts

Abstract

The demand for electric vehicles (EVs) is influenced by the location of charging stations and the management of renewable energy production. Efficient control of renewable energy can optimize resource usage, cost reduction, and enhance operator’s profitability, whereas mismanagement adversely impacts economic and energy efficiency. This study proposed an optimal location management system for distributed charging stations with renewable energy. A reward mechanism has been designed to support the electrical vehicle charging station (EVCS) operators based on uncertain demand and location. The unexpected arrival of EV demand is catered with the proposed response model by considering the price, time, and charging. The Honey Badger Algorithm (HBA) is used for the optimal operation of the charging operator for EV response. The smart contract is deployed between the transmission and charging operators to decide incentives for handling congestion and voltage stability. The experiment results demonstrate that the proposed model can reduce the overproduction of variable renewable energy with proper location management of charging stations for EVs.