Abstract
In the work, a battery model is developed based on experiments performed on lithium ion cells to estimate the degradation that a battery will undergo, given its usage profile. This battery model is used to perform a case study to evaluate the profits that an ancillary service provider may expect if they use a fleet of electric vehicles (EVs) to provide different ancillary services on the electricity market. The battery model computed the battery degradation in the battery of the EVs in the presence and absence of service provision and this additional degradation is considered as a cost to the service provider. This also helps to design a remuneration strategy for the owners of the individual EVs. The services considered are frequency containment reserve, peak shaving and a combination of the two. The results show that, considering an investment of € 1000 per V2G charger (borne by the service provider), providing a combination of frequency containment reserve and peak shaving is the most profitable of all the ventures, with a net present value of € 19500 after 10 years, while providing peak shaving and frequency containment reserve individually have a net present value of around € 11000 and € −21100 after 10 years, respectively.
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