Electric Vehicle Valet

Abstract: We propose a novel way to use Electric Vehicles (EVs) as dynamic mobile energy storage with the goal to support grid balancing during peak load times. EVs seeking parking in a busy/expensive inner city area, can get free parking with a valet company in exchange for being utilized for grid support. The valet company would have an agreement with the local utility company to receive varying rewards for discharging EVs at designated times and locations of need (say, where power lines are congested). Given vehicle availabilities, the valet company would compute an optimal schedule of which vehicle to utilize where and when so as to maximize rewards collected. Our contributions are a detailed description of this new concept along with supporting theory to bring it to fruition. On the theory side, we provide new hardness results, as well as efficient algorithms with provable performance guarantees that we also test empirically.