Abstract:

The Vehicle-2-grid (V2G) technology enabling bidirectional charging between electric vehicles and the energy grid system for frequency regulation and load balancing has the potential of significantly improving the financial viability of electric mobility. This paper has identified that the introduction of V2G offers a plethora of potentially beneficial business models, which primarily focus on providing stability services to the energy grid and optimizing the economic benefits of owning an EV. Within these overarching categories, it is likely that several niche business models will emerge, as the current V2G concepts include the integration of intermittent renewable energy into the grid, reduction of peak load, charging optimization, and regulation of participating capacity. Most important is the balancing of the five market factors in order to create a profitable business case, as this is what makes V2G move from a potential revenue generator to a profitable business. V2G has potential to become an economic game changer for EVs, but the potential differs widely from country to country and will rely on more companies utilizing the potential.