Zero Carbon V2X Tariffs for Non-Domestic Customers

TL;DR

This paper proposes a novel V2X tariff contract using VCG mechanisms to enable electric vehicle fleets to efficiently export energy, reducing costs and carbon emissions in non-domestic energy markets.

Contribution

It introduces a new contract model leveraging VCG mechanisms for efficient energy trading with electric vehicles in V2X systems.

Findings

Efficient energy trading schedules for EV fleets are achieved.

Reduction in carbon emissions through optimized V2X tariffs.

Cost savings for non-domestic energy consumers.

Abstract

With the aim of meeting the worlds net-zero objectives, electricity trading through contractual agreements is becoming increasingly relevant in global and local energy markets. We develop contracts enabling efficient energy trading using Vehicle to Everything technology which can be applied to regulate energy markets and reduce costs and carbon emissions by using electric vehicles with bidirectional batteries to store energy during offpeak hours for export during peak hours. We introduce a contract based on the VCG mechanism which enables fleets of electric vehicles to export electricity to the grid efficiently throughout the day, where each electric vehicle has its energy consumption and exporting schedules and costs.