A Reward Mechanism for Reliability-as-a-Service Usage of Electric Vehicles

  • Author(s) / Creator(s)
  • Instead of using a dedicated backup power source to fulfill the energy needs of buildings during contingencies, a reward mechanism for providing reliability-as-a-service (RaaS) via electric vehicles (EVs) is proposed in this study. The proposed positive reward mechanism comprises an upfront reward portion (paid upon registering) and a per-event reward portion (paid based on the amount of energy used). Similarly, a negative reward is applied to the registered EV owners not complying with their contracts. In addition, a score updating mechanism is proposed to incentivize EVs following their contracts and penalize the violating EVs. The score will be decisive during events when more EVs are available than the required energy. The use of EVs for providing RaaS is compared with two commonly used technologies for backup power, i.e., diesel generator and battery storage. Simulations have shown that the proposed scheme can significantly save the cost for building operators/owners while providing revenues for EV owners. The fairness in incentive allocation versus the amount of used energy is also demonstrated.

  • Date created
  • Subjects / Keywords
  • Type of Item
    Conference/Workshop Presentation
  • DOI
  • License
    Attribution-NonCommercial 4.0 International
  • Language
  • Source
    13th IEEE Conference on Innovative Smart Grid Technologies (ISGT 2022), February 21 – 24, 2022, Washington D.C.