Group bidding for guaranteed Quality of Energy in V2G smart grid networks

With the aid of advanced Information and Communication Technologies (ICT), Vehicle-to-Grid (V2G) networks will play an important role in supporting and enhancing the distributed electricity supply in the next generation power grid-smart grid. In order to ensure stability of the power grid and satisfy the Quality of Energy (QoE) requirements of Electric Vehicles (EVs), this paper proposes a two-level group bidding mechanism for the electric energy trade between the grid and EVs. Trading information between the grid and EVs is exchanged through communication networks. EVs acted as mobile energy storage are organized to form an electricity feedback group by aggregators. The grid aims at minimizing the cost of given electricity demand while EVs expect to maximize their profits. A quantity based feedback electricity unit pricing scheme is proposed to incentivize the participation of EVs in V2G networks. Moreover, Vickrey-Clarke-Groves (VCG) auction-based algorithms are designed to implement our proposed mechanisms. Simulation results indicate that our mechanism is able to reduce the cost of the grid while offer EVs significant incentives to participate in the V2G power market.