City-wide modeling of Vehicle-to-Grid Economics to Understand Effects of Battery Performance

TL;DR

This study models city-wide Vehicle-to-Grid economics considering realistic battery degradation, charging efficiencies, and user behavior to identify key factors influencing EV owner profits in V2G systems.

Contribution

It introduces a comprehensive V2G economic model that incorporates realistic battery parameters and user behavior, improving upon prior idealized analyses.

Findings

Charging rate and efficiency are critical for EV owner profits.

Battery cost and degradation have minimal impact on V2G economics.

Results vary across six U.S. cities, highlighting regional differences.

Abstract

Vehicle-to-grid (V2G) is a promising approach to solve the problem of grid-level intermittent supply and demand mismatch, caused due to renewable energy resources, because it uses the existing resource of electric vehicle (EV) batteries as the energy storage medium. EV battery design together with an impetus on profitability for participating EV owners is pivotal for V2G success. To better understand what battery device parameters are most important for V2G adoption, we model the economics of V2G process under realistic conditions. Most previous studies that perform V2G economic analysis, assume ideal driving conditions, use linear battery degradation models, or only consider V2G for ancillary services. Our model accounts realistic battery degradation, empirical charging efficiencies, for randomness in commute behavior, and historic hourly electricity prices in six cities in the United States. We model user behavior with Bayesian optimization to provide a best-case scenario for V2G. Across all cities, we find that charging rate and efficiency are the most important factors that determine EV users' profits. Surprisingly, EV battery cost and thus degradation due to cycling has little effect. These findings should help focus research on figures of merit that better reflect real usage of batteries in a V2G economy.