Total cost of ownership of electric vehicles incorporating Vehicle to Grid technology

High purchase prices of electric vehicles (EV) currently still limit market adoption. Vehicle-to-Grid (V2G) could provide an opportunity to make profit on EV grid connectivity, and thus reduce the Total Cost of Ownership (TCO) in comparison with conventional vehicle technologies. This study is a first step towards integrating V2G benefits in TCO modelling. Our Belgian case study on the city, medium and premium car segment illustrates that the benefits according to the current market conditions are very limited, more specifically the total cost decreases through V2G with 1%-2,59% over the lifetime of a vehicle. Through a Monte Carlo analysis on energy prices and the V2G contract conditions, it is shown that currently mainly in the premium market there is potential for a shift towards cleaner vehicles based on lowest total cost of vehicle technology.