Economic Evaluation of V2G-Enabled Fast Charging Stations Under Endogenous EV Adoption Dynamics

Building fast charging stations (FCSs) is crucial for transportation electrification, but there exists an indirect network effect: while the increasing number of electric vehicles (EVs) decides the FCS capacity expansion, the spatial locations of these facilities strongly influence drivers' willingness to adopt EVs. Ignoring this interaction can lead to bad capital investments and exacerbate power grid vulnerabilities during tidal traffic peaks. Therefore, we explicitly model the EV adoption dynamics as decision-dependent uncertainties (DDUs) in a new multi-period collaborative planning framework. This framework evaluates the economic viability of V2G-enabled FCSs across both transportation and distribution networks. To simplify the complex calculation, we introduce an aggregated fleet virtual battery model to catch macroscopic vehicle-to-grid (V2G) flexibility. This successfully circumvents the dimension curse inherent in tracking microscopic state-of-charge. To further guarantee calculation speed, the nonlinear infrastructure exposure is transformed into a mixed-integer program by using Special Ordered Set type 2 (SOS2) variables and Second-Order Cone Programming (SOCP) relaxations for grid limits. Finally, numerical studies on a coupled Sioux Falls and IEEE 33-bus testbed prove that our framework achieves superior expected social welfare. Also, macroscopic V2G aggregation is highlighted for its capability to mitigate distribution grid congestion penalties.