A Model for Cost–Benefit Analysis of Privately Owned Vehicle-to-Grid Solutions

Abstract

Although the increasing adoption of electric vehicles (EVs) is overall positive for the environment and for the sustainable use of resources, the extra effort that requires purchasing an EV when compared to an equivalent internal combustion engine (ICE) competitor make them less appealing from an economical point of view. In addition to that, there are other challenges in EVs (autonomy, battery, recharge time, etc.) that are non-existent in ICE vehicles. Nevertheless, the possibility of providing electricity to the power grid via vehicle-to-grid technology (V2G), along with lower maintenance costs, could prove that EVs are the most economically efficient option in the long run. Indeed, enabling V2G would make EVs capable of saving some costs for their vehicle owners, thus making them a better long-term mobility choice that could trigger deep changes in habits of vehicle owners. This paper describes a cost–benefit analysis of how consumers can make use of V2G solutions, in a way that they can use their vehicle for transport purposes and obtain revenues when injecting energy into the power grid.

Keywords

• electric vehicle
• vehicle-to-grid
• cost–benefit analysis