In this paper, economic analysis of a real-time power flow control algorithm for charging a large scale PEVs network in an urban area power system with renewable energy resources is proposed. In this model, PEVs charging rates are controlled by a central aggregator through wireless communication. To limit the impact of PEVs' charging to the utility grid, meanwhile optimize the scheduling of Vehicle-to-grid (V2G) frequency regulation services, a V2G intelligent power flow management algorithm based on the fuzzy logic control method is developed. The smart charging system will improve the power system stability and robustness meanwhile bring benefit to the utility AC grid, the PEVs network and its customers. An economic analysis model is built with the consideration of the battery degradation and capital cost. The proposed smart charging algorithm is tested with a 50,000 PEVs network model. The simulation results show effective and economic value of the proposed model.