Abstract
The Vehicle-2-grid (V2G) technology enabling bidirectional charging between electric vehicles and the energy grid system for frequency regulation and load balancing has the potential of significantly improving the financial viability of electric mobility. This paper has identified that the introduction of V2G offers a plethora of potentially beneficial business models, which primarily focus on providing stability services to the energy grid and optimizing the economic benefits of owning an EV. Within these overarching categories, it is likely that several niche business models will emerge, as the current V2G concepts include the integration of intermittent renewable energy into the grid, reduction of peak load, charging optimization, and regulation of participating capacity. Most important is the balancing of the five market factors in order to create a profitable business case, as this is what makes V2G move from a potential revenue generator to a profitable business.
Highlights
The production and distribution of energy are continuously being improved with the installation of an increasing amount of renewable energy sources, which are constantly pushing the boundaries for energy efficiency
As electric vehicles are used for transportation purposes for only 12.1% of an average day, they are available for load balancing and frequency regulation [1], which can be beneficial both for the energy system and EV owner, who potentially will be able to generate a profit by taking advantage of the price elasticity of electricity over the course of the day or providing services to the electric grid
The full-scale deployment and exploitation of V2G technology require an intelligent smart grid system, an integrated communication network, and feasible business models, which take the complexity of the energy distribution network into consideration
Summary
The production and distribution of energy are continuously being improved with the installation of an increasing amount of renewable energy sources, which are constantly pushing the boundaries for energy efficiency. A proposed strategy to accommodate this apparent energy waste is to integrate vehicle-2-grid (V2G) technology into the energy system, and take advantage of the energy storing capacities of electric vehicles. As electric vehicles are used for transportation purposes for only 12.1% of an average day, they are available for load balancing and frequency regulation [1], which can be beneficial both for the energy system and EV owner, who potentially will be able to generate a profit by taking advantage of the price elasticity of electricity over the course of the day or providing services to the electric grid. In order to make the energy grid system ready for the integration of V2G charging and ensuring a positive business case for the vehicle owner, different aspects must be considered. The full-scale deployment and exploitation of V2G technology require an intelligent smart grid system, an integrated communication network, and feasible business models, which take the complexity of the energy distribution network into consideration. World Electric Vehicle Journal 2018, 9, 35; doi:10.3390/wevj9030035 www.mdpi.com/journal/wevj
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