Abstract
An increase in variable renewable energy sources and soaring electricity demand at peak hours undermines the efficiency and reliability of the power supply. Conventional supply-side solutions, such as additional gas turbine plants and energy storage systems, can help mitigate these problems; however, they are not cost-effective. This study highlights the potential value of electric vehicle demand response programs by analyzing three separate scenarios: electric vehicle charging based on a time-of-use tariff, smart charging controlled by an aggregator through virtual power plant networks, and smart control with vehicle-to-grid capability. The three programs are analyzed based on the stochastic form of a power system optimization model under two hypothetical power system environments in Jeju Island, Korea: one with a low share of variable renewable energy in 2019 and the other with a high share in 2030. The results show that the cost saving realized by the electric vehicle demand response program is higher in 2030 and a smart control with vehicle-to-grid capability provides the largest cost saving. When the costs of implementing an electric vehicle demand response are considered, the difference in cost saving between the scenarios is reduced; however, the benefits are still large enough to attract customers to participate.
Highlights
The amount of operating from other common powererror flow in models. This modelSecond, can handle a stochastic form ofreserve input, required to ensure stability of the is derived from generation the model asoninternal solutions when so it can realistically analyze the power impactsystem of renewable energy the power system by uncertaintiesthe areforecasting imposed from scenarios,scheme
While the analysis shows that the VPP2 program provides a significantly larger gross cost saving than the VPP1 program, the net cost saving reveals different results
While the analysis shows that the VPP2 program provides a significantly larger gross cost saving than In thethis
Summary
In 2017, the South Korean government implemented an energy transition policy to convert traditional fossil-fuel-oriented energy into eco-friendly renewable energy as a solution to high domestic and international pressure for greenhouse gas emission reduction. The goal of the energy transition policy is to displace coal and nuclear power generation quickly with variable renewable sources (VRS). Such as wind and solar energy, which are free from greenhouse gas and fine dust emissions. The replacement of traditional power sources with VRS can help to build a more eco-friendly and less fossil-fuel-dependent power supply environment; VRS can undermine the reliability of the power supply. Unlike coal and nuclear power, VRS sources, such as solar photovoltaic (PV)
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