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An economic evaluation of the coordination between electric vehicle storage and distributed renewable energy

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  • Liu, Jian
  • Zhong, Caifu

Abstract

Driven by the booming of electric vehicle (EV) market, the cost of lithium ion battery observes a remarkable decline which could significantly improve the capability of EVs in coordinating with the power generation from distributed renewable energy (DRE). This paper realizes that there are different EV-DRE coordination strategies while the costs and the associated infrastructure of these strategies significantly differ. An economic evaluation that compares these coordination strategies is therefore important. In this study, an economic evaluation is conducted among four EV-DRE coordination strategies. It finds that the cost of power supply from demand side PV plus storage systems could be lower than that of power grid supply before 2025. Besides, although the smart charging is a cost-efficient EV-DRE coordination strategy in the short term, V2G could be more economically attractive in the long run due to its capacity to fully realize the potential of on-board EV batteries. This paper also identifies the key barriers that EVs and distributed storage are facing in participating in the current electricity wholesale market in China and provides policy recommendations in terms of electricity time of use (TOU) tariffs, market thresholds and metering issues.

Suggested Citation

  • Liu, Jian & Zhong, Caifu, 2019. "An economic evaluation of the coordination between electric vehicle storage and distributed renewable energy," Energy, Elsevier, vol. 186(C).
    • Handle: RePEc:eee:energy:v:186:y:2019:i:c:s0360544219314938
    DOI: 10.1016/j.energy.2019.07.151
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    Citations

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    Cited by:

    1. Liu Pai & Tomonobu Senjyu, 2022. "A Yearly Based Multiobjective Park-and-Ride Control Approach Simulation Using Photovoltaic and Battery Energy Storage Systems: Fuxin, China Case Study," Sustainability, MDPI, vol. 14(14), pages 1-19, July.
    2. Forero-Quintero, Jose-Fernando & Villafáfila-Robles, Roberto & Barja-Martinez, Sara & Munné-Collado, Ingrid & Olivella-Rosell, Pol & Montesinos-Miracle, Daniel, 2022. "Profitability analysis on demand-side flexibility: A review," Renewable and Sustainable Energy Reviews, Elsevier, vol. 169(C).
    3. Yi, Tao & Cheng, Xiaobin & Chen, Yaxuan & Liu, Jinpeng, 2020. "Joint optimization of charging station and energy storage economic capacity based on the effect of alternative energy storage of electric vehicle," Energy, Elsevier, vol. 208(C).
    4. Chen, Jianhong & Zhang, Youlang & Li, Xinzhou & Sun, Bo & Liao, Qiangqiang & Tao, Yibin & Wang, Zhiqin, 2020. "Strategic integration of vehicle-to-home system with home distributed photovoltaic power generation in Shanghai," Applied Energy, Elsevier, vol. 263(C).
    5. Pfeifer, Antun & Krajačić, Goran & Haas, Reinhard & Duić, Neven, 2020. "Consequences of different strategic decisions of market coupled zones on the development of energy systems based on coal and hydropower," Energy, Elsevier, vol. 210(C).
    6. Isabel C. Gil-García & Mª Socorro García-Cascales & Habib Dagher & Angel Molina-García, 2021. "Electric Vehicle and Renewable Energy Sources: Motor Fusion in the Energy Transition from a Multi-Indicator Perspective," Sustainability, MDPI, vol. 13(6), pages 1-19, March.
    7. Sun, Dexi & Xia, Jianjun, 2023. "Research on road transport planning aiming at near zero carbon emissions: Taking Ruicheng County as an example," Energy, Elsevier, vol. 263(PB).
    8. Jenn, Alan, 2023. "Emissions of electric vehicles in California’s transition to carbon neutrality," Applied Energy, Elsevier, vol. 339(C).
    9. Liu, Jia & Chen, Xi & Yang, Hongxing & Li, Yutong, 2020. "Energy storage and management system design optimization for a photovoltaic integrated low-energy building," Energy, Elsevier, vol. 190(C).
    10. Raja S, Charles & Kumar N M, Vijaya & J, Senthil kumar & Nesamalar J, Jeslin Drusila, 2021. "Enhancing system reliability by optimally integrating PHEV charging station and renewable distributed generators: A Bi-Level programming approach," Energy, Elsevier, vol. 229(C).
    11. Aree Wangsupphaphol & Surachai Chaitusaney & Mohamed Salem, 2023. "A Techno-Economic Assessment of a Second-Life Battery and Photovoltaics Hybrid Power Source for Sustainable Electric Vehicle Home Charging," Sustainability, MDPI, vol. 15(7), pages 1-19, March.
    12. Yang, Qingqing & Li, Jianwei & Cao, Wanke & Li, Shuangqi & Lin, Jie & Huo, Da & He, Hongwen, 2020. "An improved vehicle to the grid method with battery longevity management in a microgrid application," Energy, Elsevier, vol. 198(C).
    13. Xu, Bin & Luo, Yuemei & Xu, Renjing & Chen, Jianbao, 2021. "Exploring the driving forces of distributed energy resources in China: Using a semiparametric regression model," Energy, Elsevier, vol. 236(C).
    14. Al Wahedi, Abdulla & Bicer, Yusuf, 2022. "Techno-economic optimization of novel stand-alone renewables-based electric vehicle charging stations in Qatar," Energy, Elsevier, vol. 243(C).
    15. Barone, Giovanni & Buonomano, Annamaria & Forzano, Cesare & Giuzio, Giovanni Francesco & Palombo, Adolfo & Russo, Giuseppe, 2022. "Energy virtual networks based on electric vehicles for sustainable buildings: System modelling for comparative energy and economic analyses," Energy, Elsevier, vol. 242(C).
    16. Cristina Sousa & Evaldo Costa, 2022. "Types of Policies for the Joint Diffusion of Electric Vehicles with Renewable Energies and Their Use Worldwide," Energies, MDPI, vol. 15(20), pages 1-19, October.
    17. Mohammadnejad, Mehran & Abdollahi, Amir & Rashidinejad, Masoud, 2020. "Possibilistic-probabilistic self-scheduling of PEVAggregator for participation in spinning reserve market considering uncertain DRPs," Energy, Elsevier, vol. 196(C).
    18. Daryabari, Mohamad K. & Keypour, Reza & Golmohamadi, Hessam, 2021. "Robust self-scheduling of parking lot microgrids leveraging responsive electric vehicles," Applied Energy, Elsevier, vol. 290(C).

    More about this item

    Keywords

    Electric vehicle storage; PV; V2G; LCOE; LCOS;
    All these keywords.

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