Stochastic Modeling and Analysis of Public Electric Vehicle Fleet Charging Station Operations

The electric vehicle (EV) fleet is gradually growing into a major part of public transportation. Proper planning and operation of EV supply equipment (EVSE) is essential to ensure the efficient and economic operations of the EV fleets. Charging stations (CS) have gained market attention due to their lower cost and versatility. Battery swapping stations (BSS) have also received considerable attention because of their promise to provide fast and sustainable battery replacements. However, their commercial viability is unclear due to their requirement for large capital and infrastructure deployment. In this paper, we develop a stochastic model for interactions between CS/BSS and taxi/bus fleets. The model is based on a realistic abstraction of users' behavior defined by various stochastic processes. It also considers the dynamic impacts of the road congestion. Analytical revenue boundaries are derived and verified by simulations. These simulation results may prove valuable for future studies of public transit.