Stochastic Revenue Analysis of Electric Vehicle Participation in Californian Demand Response Markets

Oliver Garnett. & Huai Jiang
The authors estimated the potential revenue from an EV aggregation participating in the California Independent System Operator (CAISO) Proxy Demand Response (PDR) market through managed charging under a range of scenarios. Annual driving and charging profiles were developed for a sample of drivers using stochasic MarkovChain Monte Carlo (MCMC) techniques. Charging was then optimized against a forecasted PDR price stream to simulate an EV aggregators bidding EV battery capacity into the CAISO PDR market to...
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