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Estimating the Annual Microeconomic Benefits of Vehicle-to-Grid Services in New York City Gerad M. Freeman M.S. Candidate in Alternative Energy
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Goal of Economic Model Review of Literature Overview of Model Scenarios Simple Application of Scenarios Application to New York City Data Results and Sensitivities Goal of Economic Model Review of Literature Overview of Model Scenarios Simple Application of Scenarios Application to New York City Data Results and Sensitivities Outline of Presentation
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Goals of Economic Model To quantify the benefits an electric vehicle (EV) owner can expect to gain from providing Vehicle-to-Grid (V2G) energy storage services to their electric utility. To provide the model user with reasonable customization options relating to participation scenario and technology applied. To quantify the benefits an electric vehicle (EV) owner can expect to gain from providing Vehicle-to-Grid (V2G) energy storage services to their electric utility. To provide the model user with reasonable customization options relating to participation scenario and technology applied. Image: Fraunhofer
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Review of Literature
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Sell If LBMP>TOU Purchase Price Scenario 1: Arbitrage-Guided V2G 1.Use battery capacity during one-way commute in morning. 2.While connected to grid at work, sell electricity during hours where Location-Based Marginal Price (LBMP) > Time-of-Use (TOU) Purchase Price from the user’s utility. 3.Use battery capacity during one-way commute in afternoon. 4.While connected to grid at home, sell electricity during hours where LBMP > TOU Purchase Price. 5.Charge to specified maximum state-of-charge during nighttime off-peak. Only discharge to specified maximum depth-of-discharge + one-way commute energy requirement. Scenarios Modeled in Analysis Sell If LBMP>TOU Purchase Price Buy
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Scenarios Modeled in Analysis SellBuy Scenario 2: Work-Hour Price Taker V2G 1.Use battery capacity during one-way commute in morning. 2.While connected to grid at work, sell electricity no matter what. 3.Use battery capacity during one-way commute in afternoon. 4.Charge to specified maximum state-of-charge during nighttime off-peak. Only discharge to specified maximum depth-of-discharge + one-way commute energy requirement.
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Scenarios Modeled in Analysis If LBMP>Defined Price Sell Scenario 3: User-Defined Selling Price V2G 1.Use battery capacity during one-way commute in morning. 2.While connected to grid at work, sell electricity when LBMP > user-set selling price requirement. 3.Use battery capacity during one-way commute in afternoon. 4.While connected to grid at home, sell electricity when LBMP > user-set selling price requirement. 5.Charge to specified maximum state-of-charge during nighttime off-peak. Only discharge to specified maximum depth-of-discharge + one-way commute energy requirement. Buy Sell If LBMP>Defined Price
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Application 1: Simplified V2G Economic Model To show how V2G storage should work, a one-year simple model was created. A simulated electric utility Time-of-Use Purchase Rate Structure was created. Peaks and semi-peaks correlate with load profile by season. The simplified sinusoidal LBMP structure acts as the effective electricity selling price.
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Application 1: Results of Simplified Model *Key assumptions: Single battery electric vehicle with 30 kWh battery 2.75 kWh of battery capacity is used for one-way commute The point of grid connection can provide 7.2kW of charging or discharging (240V, 30A) The max depth-of-discharge is 80% and the max state-of-charge is 80% For the user-defined scenario, the seller requires a minimum of $0.15/kWh *Key assumptions: Single battery electric vehicle with 30 kWh battery 2.75 kWh of battery capacity is used for one-way commute The point of grid connection can provide 7.2kW of charging or discharging (240V, 30A) The max depth-of-discharge is 80% and the max state-of-charge is 80% For the user-defined scenario, the seller requires a minimum of $0.15/kWh
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Application 2: New York City ISO Electricity Data Minimum increases $0.90 Maximum increases $0.93 Interquartile Range of ~$0.03 – ~$0.07 Zonal load trend is mostly level. Minimum ~4GW all 5 years. Median ~6GW all 5 years. Maximum ~11GW all 5 years. Zonal load trend is mostly level. Minimum ~4GW all 5 years. Median ~6GW all 5 years. Maximum ~11GW all 5 years.
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Application 2: Local Utility Pricing Structure Charging period
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Application 2: Automobile Data in Analysis The average modern BEV has a battery capacity of 31kWh and level-2 charging infrastructure capable of delivering 7kW at ~86% efficiency. Range is also increasing with new BEVs, allowing more battery to be committed to V2G service provision. The average modern BEV has a battery capacity of 31kWh and level-2 charging infrastructure capable of delivering 7kW at ~86% efficiency. Range is also increasing with new BEVs, allowing more battery to be committed to V2G service provision.
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Application 2: Assumptions Source: Deutsche Bank Markets Research. (2015) Crossing The Chasm. New York, NY: Shah & Booream-Phelps.
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Application 2: Arbitrage-Guided V2G Results & Comments Little value exists for Arbitrage-Guided V2G on average. However, a general upward trend in economic benefits exists as battery prices improve and LBMP range shifts toward higher maximum extremes.
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Application 2: Work-Hour Price Taker V2G Results & Comments Being a price taker results in large losses due mainly to degradation costs. However, the upward trend in benefits persists in the case of Work-Hour Price Taker V2G.
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Application 2: User-Defined Selling Price V2G Results & Comments Optimal selling price of at least $0.39/kWh allows participants to take advantage of extreme price fluctuations while limiting added battery cycling. Positive benefit is seen over all car models if users set their selling price intelligently. $0.39
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Battery/Power Electronic Sensitivities As stated previously, the average BEV has a 31kWh battery, a 7kW level-2 charger, and an approximate range of 100 miles per charge. Charge/Discharge efficiency is very important in this application.
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This analysis presents the value of providing V2G energy storage services using a wide range of available technologies. 12 unique, current BEV models to choose from Five unique point of connection characteristics Participant choice is central to this model. Three economically-derived scenarios of participation Flexibility in work/commute hours and distance Participant chooses max depth-of-discharge and max state-of-charge for his/her battery User defines selling price requirement where applicable A particular emphasis is placed on the recent trend of consumer benefit with the emergence of new technologies. This analysis presents the value of providing V2G energy storage services using a wide range of available technologies. 12 unique, current BEV models to choose from Five unique point of connection characteristics Participant choice is central to this model. Three economically-derived scenarios of participation Flexibility in work/commute hours and distance Participant chooses max depth-of-discharge and max state-of-charge for his/her battery User defines selling price requirement where applicable A particular emphasis is placed on the recent trend of consumer benefit with the emergence of new technologies. Concluding Remarks
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