Vehicle to Grid Impacts on the Total Cost of Ownership for Electric Vehicle Drivers

Abstract

Electric vehicles (EV) are foreseen as one major technology toward decarbonizing the mobility sector. At the same time, Vehicle to Grid (V2G) technology opens a new market for EV owners. This article identifies the impacts of providing V2G services on the Total Cost of Ownership (TCO) of EVs. Thus, we studied EVs in private, semi-public and public charging cases, considering two different V2G revenue streams. The included V2G services were: (i) local load balancing to balance the peaks and valleys of the electricity demands of buildings and (ii) an imbalance service to enhance grid stability. In this paper, the impact of these two V2G services is quantified and considered in the TCO calculations. To the authors’ knowledge, no comparable study incorporating the same V2G services exists in the literature. The TCO is calculated with real-life data for four different EVs currently available in the market. As a result, the V2G TCO ranges from €33.167 to €61.436 over an average of nine years for the Flanders region (Belgium).

Keywords

• total cost of ownership
• Vehicle-to-Grid
• charging of electric vehicles
• passenger cars
• electric vehicles