Abstract: Electric vehicles (EVs) can provide significant support for the flexible operation of power systems. Vehicle-to-grid (V2G) mode is an important way for EVs to participate in the frequency and voltage regulation. However, the lack of an effective market operation mechanism makes it difficult for large-scale EVs to participate in the ancillary services of the grid. To clarify the effect of different policies on the V2G promotion, this paper proposes a novel evolutionary game model with the participation of the Electricity Regulatory Commission (ERC), Power Grid Company (PG), and EVs. The strategic choices of the ERC-PG-EVs are investigated together with their impact on the operation of the V2G market. Then, we identify the subsidy and pricing mechanisms for the government to facilitate the long-term evolution of the V2G. Moreover, the evolutionary stable strategy (ESS) is analyzed by the Lyapunov theorem. Finally, numerical results with real data verifies the effectiveness of the proposed method.

Key words: evolutionary game, electric vehicles, vehicle-to-grid, evolutionary stable strategy