Economic and carbon reduction potential assessment of vehicle-to-grid development in Guangdong province

Abstract

The rise in electric vehicle (EV) use in Guangdong Province enhances the potential for Vehicle-to-Grid (V2G) applications to absorb renewable energy and manage grid loads. This study explores V2G's carbon reduction and economic potential in Guangdong Province, using a long-term power model based on the region's EV inventory. It projects power consumption, carbon reduction and economic gains for battery electric vehicles (BEVs) across four carbon reduction scenarios aligned with transportation trends. Findings suggest V2G application and modes could cut carbon emissions by 1,471 and 2,873 million metric tons CO2 and mitigate peak-valley load disparities by 7.6%. Compared to multiple influencing factors, the increase in battery capacity is a key benefit to all stakeholders involved in V2G interactions. Large-scale V2G integration promotes green energy, enhances grid efficiency, and offers economic advantages for multiple participants. The study concludes with strategic recommendations for V2G's advancement.