Optimal Capacity Allocation of Photovoltaic Energy Storage Charging Station Considering CVaR Assessment for Low Revenue Risk

The uncertainty of EV charging demand and PV output makes the revenue of the Photovoltaic energy storage charging station uncertain. In order to quantify the impact of this uncertainty on the revenue of Photovoltaic energy storage charging station, an optimal capacity allocation model for Photovoltaic energy storage charging station is developed to evaluate the low revenue risk. The model uses a conditional value-at-risk (CVaR) measure of low-return risk, with the objective of maximizing the return after considering this risk, and the return function is the sum of the operating return costs under a typical scenario considering charging demand and PV output. The model is solved to obtain the pareto frontier of expected value of return and expected return CVaR under different risk preferences as well as the corresponding allocation capacity, which provides the optimal capacity allocation solution under different risk preferences for benefit-chasing or risk-averse light storage charging station investors and builders, while using the entropy-weight-TOPSIS method to screen out objective decision solutions to achieve an objective trade-off between risk and return.