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Economic Feasibility of V2G Frequency Regulation in Consideration of Battery Wear
Energy Technology Research Institute, National Institute of Advanced Institute of Industrial Science and Technology, Tsukuba Center 2, 1-1-1 Umezono, Tsukuba, Ibaraki 305-8568, Japan
Department of Electrical Engineering, Konkuk University, 120 Neungdong-ro, Gwangjin-gu, Seoul 143-701, Korea
* Author to whom correspondence should be addressed.
Received: 20 November 2012; in revised form: 6 January 2013 / Accepted: 31 January 2013 / Published: 6 February 2013
Abstract: An economic feasibility study of vehicle-to-grid (V2G) frequency regulation is performed in consideration of battery wear. Usually, a transaction for frequency regulation is made in terms of power capacity while the battery-wear proceeds in proportion to the absolute amount of energy transferred. In order to relate the two quantities, we first estimate the amount of transferred energy in terms of contracted power capacity, and hence regulation income, by analyzing actual regulation signals and transactions. On the other hand, the amount of transferrable energy during the life cycle of a battery is estimated analyzing some pervasive specifications for electric vehicle (EV) batteries. The expected V2G income is then estimated and compared with battery prices to judge the economic feasibility of V2G regulation. In the latter part of the paper, the assessment result is validated with actual cycle life data of an EV battery cell. As a result, it is concluded that the estimated profit exceeds current market price of EV batteries, indicating that V2G regulation is an economically feasible service.
Keywords: battery wear; battery cycle life; vehicle-to-grid; electric vehicle; frequency regulation; economics
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Cite This Article
MDPI and ACS Style
Han, S.; Han, S. Economic Feasibility of V2G Frequency Regulation in Consideration of Battery Wear. Energies 2013, 6, 748-765.
Han S, Han S. Economic Feasibility of V2G Frequency Regulation in Consideration of Battery Wear. Energies. 2013; 6(2):748-765.
Han, Sekyung; Han, Soohee. 2013. "Economic Feasibility of V2G Frequency Regulation in Consideration of Battery Wear." Energies 6, no. 2: 748-765.