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Estimation of the cost savings from participation of electric vehicles in Vehicle to Grid (V2G) schemes

Estimation of the cost savings from participation of electric vehicles in Vehicle to Grid (V2G) schemes
Estimation of the cost savings from participation of electric vehicles in Vehicle to Grid (V2G) schemes
The storage capacity of the batteries in an electric vehicle (EV) could be utilised to store electrical energy and give it back to the grid when needed by participating in vehicle to grid (V2G) schemes. This participation could be a source of revenue for vehicle owners thus reducing the total charging cost of their EVs. A V2G simulator has been developed using MATLAB to find out the potential cost saving from participation of EVs in V2G schemes. A standard IEEE30 network has been modelled in the simulator which uses the MATPOWER engine to undertake power flow analysis. A novel control algorithm has been developed to take advantage of the difference between the selling and buying electricity prices by charging and discharging EVs at the appropriate time. Two scenarios are simulated to compare the total charging cost of EVs with or without the utilisation of V2G technology within the power system assuming a total of 5000 EVs. The results of the simulation show that the applied control strategy with V2G is able to reduce the charging cost of EVs by 13.6 % while satisfying the minimum requirement for state of charge (SoC) of the EV batteries to complete their next journey.
electric vehicles, cost saving, electricity price, vehicle to grid
2196-5625
249-258
Kiaee, Mahdi
1d965346-f270-4093-b4d8-6348c0f8ec95
Cruden, Andrew
ed709997-4402-49a7-9ad5-f4f3c62d29ab
Sharkh, S.M.
c8445516-dafe-41c2-b7e8-c21e295e56b9
Kiaee, Mahdi
1d965346-f270-4093-b4d8-6348c0f8ec95
Cruden, Andrew
ed709997-4402-49a7-9ad5-f4f3c62d29ab
Sharkh, S.M.
c8445516-dafe-41c2-b7e8-c21e295e56b9

Kiaee, Mahdi, Cruden, Andrew and Sharkh, S.M. (2015) Estimation of the cost savings from participation of electric vehicles in Vehicle to Grid (V2G) schemes. Journal of Modern Power Systems and Clean Energy, 3 (2), 249-258. (doi:10.1007/s40565-015-0130-2).

Record type: Article

Abstract

The storage capacity of the batteries in an electric vehicle (EV) could be utilised to store electrical energy and give it back to the grid when needed by participating in vehicle to grid (V2G) schemes. This participation could be a source of revenue for vehicle owners thus reducing the total charging cost of their EVs. A V2G simulator has been developed using MATLAB to find out the potential cost saving from participation of EVs in V2G schemes. A standard IEEE30 network has been modelled in the simulator which uses the MATPOWER engine to undertake power flow analysis. A novel control algorithm has been developed to take advantage of the difference between the selling and buying electricity prices by charging and discharging EVs at the appropriate time. Two scenarios are simulated to compare the total charging cost of EVs with or without the utilisation of V2G technology within the power system assuming a total of 5000 EVs. The results of the simulation show that the applied control strategy with V2G is able to reduce the charging cost of EVs by 13.6 % while satisfying the minimum requirement for state of charge (SoC) of the EV batteries to complete their next journey.

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More information

e-pub ahead of print date: 14 May 2015
Published date: June 2015
Keywords: electric vehicles, cost saving, electricity price, vehicle to grid
Organisations: Energy Technology Group

Identifiers

Local EPrints ID: 377191
URI: https://eprints.soton.ac.uk/id/eprint/377191
ISSN: 2196-5625
PURE UUID: cbf20bcb-9011-4702-a17b-97d7b82cb86d
ORCID for Mahdi Kiaee: ORCID iD orcid.org/0000-0002-4169-7188
ORCID for Andrew Cruden: ORCID iD orcid.org/0000-0003-3236-2535

Catalogue record

Date deposited: 02 Jun 2015 13:29
Last modified: 01 Oct 2019 00:38

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