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With the increasing penetration of electric vehicles (EVs) into theautomotive market, the electricity peak demand would increase significantly dueto home-EV-charging. This paper tackles this problem by defining an 'ideal' EVconsumption profile, from which a day-ahead pricing model is derived. Based onhistorical residential EV-use data ranging over a year, we demonstrate that theproposed optimization process results in a pricing profile that achieves a dualobjective of minimizing the total electricity cost, as well as the peakaggregate system demand. Importantly, the proposed formulation is simple, andaccounts for the tradeoff between consumer convenience in terms of the numberof available charging slots during a day and the reduction in the totalelectricity cost. This technique is demonstrated to be scalable with respect tothe size of the community whose EV charging demands are being optimized.

EV Charging Optimization based on Day-ahead Pricing Incorporating Consumer Behavior