Optimal Business Case for Provision of Grid Services through EVs with V2G Capabilities

Vehicle-to-grid (V2G) technology facilitates bidirectional energy transfer to and from electric vehicles (EV), utilizing the EV batteries as distributed mobile storage assets and offering additional flexibility at the grid level. Nevertheless, to maximize the potential for providing flexibility through V2G services, it is likely that some form of EV asset aggregation will be required given the highly distributed nature of EV as small-scale flexible resources. In this context, the research presented in this paper aims to develop a linear optimization model to maximize the revenues obtained by a V2G EV aggregator through the provision of grid services in the UK electricity market. The paper also focuses on identifying the commercial value of V2G, based on the developed revenue maximization model, as function of various use cases such as commercial fleet vehicles or workplace charging, while also exploring the sensitivity of potential revenues with respect to various parameters associated with the driving profiles, including simulated usage patterns and modelling of various price parameters in the day-ahead and real-time electricity markets.