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Open AccessArticle

Virtual Storage-Based Model for Estimation of Economic Benefits of Electric Vehicles in Renewable Portfolios

Faculty of Electrical Engineering, Mechanical Engineering and Naval Architecture, University of Split, 21000 Split, Croatia
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Energies 2020, 13(9), 2315; https://doi.org/10.3390/en13092315
Received: 16 March 2020 / Revised: 10 April 2020 / Accepted: 22 April 2020 / Published: 6 May 2020
(This article belongs to the Special Issue Impact of Electric Vehicles on the Power System)
The expected increase in the presence of electric vehicles raises numerous questions regarding their impact on the market relations. Depending on the agreement between the involved parties, the position of EVs changes from passive (traditional role) to active. Active EVs are beneficial for variability and uncertainty-intense modern power systems. To enable this transition, a suitable framework in the form of agreements is required in order to establish the terms and responsibilities. Following the presented agreements, we propose a novel method for evaluation of the benefits that the newly added EVs bring to the portfolio. The method comprises two steps, a Monte Carlo simulation of the EV driving/charging patterns and an optimization model for market related decision making. The method results in the estimates on economic savings resulting from adding EVs to portfolios. An illustrative example is used in order to give an idea of the range of the benefits. View Full-Text
Keywords: market aggregator; EV fleet management; virtual storage; Monte Carlo simulation; stochastic optimization market aggregator; EV fleet management; virtual storage; Monte Carlo simulation; stochastic optimization
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MDPI and ACS Style

Vasilj, J.; Jakus, D.; Sarajcev, P. Virtual Storage-Based Model for Estimation of Economic Benefits of Electric Vehicles in Renewable Portfolios. Energies 2020, 13, 2315. https://doi.org/10.3390/en13092315

AMA Style

Vasilj J, Jakus D, Sarajcev P. Virtual Storage-Based Model for Estimation of Economic Benefits of Electric Vehicles in Renewable Portfolios. Energies. 2020; 13(9):2315. https://doi.org/10.3390/en13092315

Chicago/Turabian Style

Vasilj, Josip; Jakus, Damir; Sarajcev, Petar. 2020. "Virtual Storage-Based Model for Estimation of Economic Benefits of Electric Vehicles in Renewable Portfolios" Energies 13, no. 9: 2315. https://doi.org/10.3390/en13092315

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