research product . 2021

A Reward Mechanism for Reliability-as-a-Service Usage of Electric Vehicles

Hussain, Akhtar; Musilek, Petr;
Open Access English
  • Published: 01 Nov 2021
  • Country: Canada
Instead of using a dedicated backup power source to fulfill the energy needs of buildings during contingencies, a reward mechanism for providing reliability-as-a-service (RaaS) via electric vehicles (EVs) is proposed in this study. The proposed positive reward mechanism comprises an upfront reward portion (paid upon registering) and a per-event reward portion (paid based on the amount of energy used). Similarly, a negative reward is applied to the registered EV owners not complying with their contracts. In addition, a score updating mechanism is proposed to incentivize EVs following their contracts and penalize the violating EVs. The score will be decisive durin...
free text keywords: electric vehicles, backup power, power contingency, reliability-as-a-service (RaaS), reward mechanism
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