The provision of vehicle-to-grid (V2G) reserve and the optimal allocation of reserve resources is studied. Firstly

the market trading mechanism of V2G reserve is developed

on the basis of which a kind of equivalent transformation capable of exactly estimating the real-time available power capacity of V2G is proposed. Secondly

chance constrained programming is adopted to reflect such stochastic factors as load fluctuation

unit outage and V2G output errors

and a bidding model considering economics

reliability and carbon emission is developed. Thirdly

an interactive optimization method is used to deal with the multi-objective model

which is solved by an advanced particle swarm optimization algorithm combined with stochastic simulation. Finally

simulation is conducted

and the results show the validity of the equivalent transformation method as well as the multi-objective reserve bidding model. This work is supported by National Natural Science Foundation of China (No. 71403163).