{"id":26476,"date":"2022-10-21T09:57:01","date_gmt":"2022-10-21T08:57:01","guid":{"rendered":"https:\/\/www.innovationnewsnetwork.com\/?p=26476"},"modified":"2022-10-21T09:57:01","modified_gmt":"2022-10-21T08:57:01","slug":"wireless-charging-evs-requires-efficient-pricing-strategy","status":"publish","type":"post","link":"https:\/\/www.innovationnewsnetwork.com\/wireless-charging-evs-requires-efficient-pricing-strategy\/26476\/","title":{"rendered":"Wireless charging for EVs requires efficient pricing strategy"},"content":{"rendered":"

Cornell University researchers have <\/span>designed an efficient bidding strategy to reduce the energy costs for operators of wireless charging roads.<\/span><\/h2>\n

According to new Cornell University research, motorway wireless charging for electric cars will require an efficient bidding strategy for <\/span>energy costs<\/span><\/a> to be minimised for both the private operators and the consumers who use the service. The researchers found that consumers could save as much as 6% off the retail electricity price by employing dynamic pricing strategies in the marketplace.\u00a0<\/span>\u00a0<\/span><\/p>\n

The paper, \u2018<\/span>Bidding strategy for wireless charging roads with energy storage in real-time electricity markets<\/span><\/a>,\u2019 aims to design a competitive and price-sensitive demand bidding strategy for wireless charging road owners who currently have no electricity storage capacity.\u00a0<\/span>\u00a0<\/span><\/p>\n

The research is published in the journal <\/span>Applied Energy.\u00a0<\/span><\/i>\u00a0<\/span><\/p>\n

Managing a charging motorway requires efficient pricing<\/span>\u00a0<\/span><\/h3>\n

An efficient pricing strategy is crucial for private operators who provide motorway wireless charging for EVs because electricity prices can vary drastically within a day.<\/span>\u00a0<\/span><\/p>\n

Oliver Gao, the Howard Simpson Professor of Civil and Environmental Engineering in Cornell Engineering and senior author of the study, stated: \u201cElectrifying transportation is great, since you can eliminate carbon emissions.<\/span>\u00a0<\/span><\/p>\n

\u201cYou can energise your car while driving in the charging lane. But if you\u2019re managing a charging highway that can provide energy to cars, you\u2019re buying and selling electricity on an industrial scale. We\u2019re trying to suggest a smart business strategy.\u201d<\/span>\u00a0<\/span><\/p>\n

A proposed strategy for reducing the energy cost of a wireless charging road\u00a0<\/span>\u00a0<\/span><\/h3>\n

Gao, who is also a <\/span>faculty fellow at the Cornell Atkinson Center for Sustainability, and his team<\/span>, developed an algorithm to forecast the real-time electricity load on a charging motorway. This will evaluate a price prediction and electricity availability.\u00a0<\/span>\u00a0<\/span><\/p>\n

\"\"
\u00a9 iStock\/Just_Super<\/figcaption><\/figure>\n

Not only does the team\u2019s bidding strategy reduce the energy cost for operating a wireless charging road, but electricity load pressure on a power network is also partially alleviated.\u00a0<\/span>\u00a0<\/span><\/p>\n

\u201cOur paper comes from the perspective of running a gas station,\u201d Gao said.\u00a0<\/span>\u00a0<\/span><\/p>\n

\u201cIf you\u2019re running a charging highway \u2013 or if you get the contract to run a charging highway \u2013 you\u2019re buying electricity and you\u2019re selling electricity. It\u2019s dynamic. You either buy an hour ahead of time and then you sell it one hour later, or you bid on electricity, you submit your bid, buy it, and then you sell it.\u201d<\/span>\u00a0<\/span><\/p>\n

What are the advantages of wireless charging lanes? <\/span>\u00a0<\/span><\/h3>\n

Currently, an EV battery has a variety of limitations which causes the charging time of an electric car to increase. On top of this, an electric car\u2019s range may only be a few hundred miles.\u00a0<\/span>\u00a0<\/span><\/p>\n

A wireless charging lane reduces this so-called \u2018rang anxiety\u2019 about low batteries on longer trips, as a driver has the ability to move into a charging lane. These would act in a similar way as today\u2019s high-occupancy vehicles moving into special lanes to avoid dense traffic.\u00a0<\/span>\u00a0<\/span><\/p>\n

To ensure that wireless charging lanes can function efficiently, ensuring that energy costs can be lowered will impose less pressure on the existing power grid.<\/span>\u00a0<\/span><\/p>\n

\u00a0\u201cThese two merits can bring broad benefits to our society,\u201d Gao said. \u201cCost reduction in operating wireless charging roads is likely to attract more investment in constructing these roads and lower the corresponding charging price \u2013 promoting overall electric vehicle adoption.<\/span>\u00a0<\/span><\/p>\n

\u201cThe alleviation of required pressure on the power grid is great news to the power industry, which already suffers significant strain on the existing infrastructure.\u201d<\/span>\u00a0<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

Wireless charging lanes will reduce range anxiety for EV owners, but for these to become a reality, energy costs must be minimised. <\/p>\n","protected":false},"author":18,"featured_media":26481,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[24425],"tags":[582,24404],"acf":[],"yoast_head":"\nWireless charging for EVs requires efficient pricing strategy<\/title>\n<meta name=\"description\" content=\"Wireless charging lanes will reduce range anxiety for EV owners, but for these to become a reality, energy costs must be minimised.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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