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Valuation of electric vehicle batteries in vehicle-to-grid and battery-to-grid systems

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  • Hein, Robert
  • Kleindorfer, Paul R.
  • Spinler, Stefan

Abstract

Batteries are responsible for the major share of costs of electric vehicles (EVs). However, they are idle most of the time during vehicle use and expected to retain a significant capacity when discarded from vehicle use. As a result, they may provide an additional value during and after their vehicle life, helping to reduce their total costs of ownership. We use a dynamic model to evaluate three competing approaches of using EV batteries for grid applications. These are (1) batteries installed in EVs, also known as vehicle-to-grid (V2G), as well as (2) used and (3) new batteries installed in stationary energy storage systems (ESS), which we refer to as battery-to-grid (B2G). We find that none of the approaches is likely to be implemented on a large scale as the anticipated revenues barely (if at all) offset the additional costs incurred by the corresponding applications.

Suggested Citation

  • Hein, Robert & Kleindorfer, Paul R. & Spinler, Stefan, 2012. "Valuation of electric vehicle batteries in vehicle-to-grid and battery-to-grid systems," Technological Forecasting and Social Change, Elsevier, vol. 79(9), pages 1654-1671.
    • Handle: RePEc:eee:tefoso:v:79:y:2012:i:9:p:1654-1671
    DOI: 10.1016/j.techfore.2012.06.002
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    Citations

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    Cited by:

    1. David F. Drake & Stefan Spinler, 2013. "OM Forum —Sustainable Operations Management: An Enduring Stream or a Passing Fancy?," Manufacturing & Service Operations Management, INFORMS, vol. 15(4), pages 689-700, October.
    2. Anaya, K. & Pollitt, M., 2018. "Storage Business Models: Lessons for Electricity from Natural Gas, Cloud Data and Frozen Food," Cambridge Working Papers in Economics 1810, Faculty of Economics, University of Cambridge.
    3. Paul R. Kleindorfer & Andrei Neboian & Alain Roset & Stefan Spinler, 2012. "Fleet Renewal with Electric Vehicles at La Poste," Interfaces, INFORMS, vol. 42(5), pages 465-477, October.
    4. van der Kam, Mart & van Sark, Wilfried, 2015. "Smart charging of electric vehicles with photovoltaic power and vehicle-to-grid technology in a microgrid; a case study," Applied Energy, Elsevier, vol. 152(C), pages 20-30.
    5. Poullikkas, Andreas, 2015. "Sustainable options for electric vehicle technologies," Renewable and Sustainable Energy Reviews, Elsevier, vol. 41(C), pages 1277-1287.
    6. Yanyan Liu & Ying Cheng & Wei Liu, 2018. "Understanding Gatekeeping Transformation in the Chinese EV Industry: An Exploratory Study of the Focal Firms' Cross-industrial Interactions," Interdisciplinary Description of Complex Systems - scientific journal, Croatian Interdisciplinary Society Provider Homepage: http://indecs.eu, vol. 16(3-B), pages 485-503.
    7. Gay, Destine & Rogers, Tom & Shirley, Rebekah, 2018. "Small island developing states and their suitability for electric vehicles and vehicle-to-grid services," Utilities Policy, Elsevier, vol. 55(C), pages 69-78.
    8. Sovacool, Benjamin K. & Kester, Johannes & Noel, Lance & Zarazua de Rubens, Gerardo, 2020. "Actors, business models, and innovation activity systems for vehicle-to-grid (V2G) technology: A comprehensive review," Renewable and Sustainable Energy Reviews, Elsevier, vol. 131(C).
    9. Nomaguchi, Yutaka & Tanaka, Hiroki & Sakakibara, Akiyuki & Fujita, Kikuo & Kishita, Yusuke & Hara, Keishiro & Uwasu, Michinori, 2017. "Integrated planning of low-voltage power grids and subsidies toward a distributed generation system – Case study of the diffusion of photovoltaics in a Japanese dormitory town," Energy, Elsevier, vol. 140(P1), pages 779-793.
    10. Gough, Rebecca & Dickerson, Charles & Rowley, Paul & Walsh, Chris, 2017. "Vehicle-to-grid feasibility: A techno-economic analysis of EV-based energy storage," Applied Energy, Elsevier, vol. 192(C), pages 12-23.
    11. Mahmoudzadeh Andwari, Amin & Pesiridis, Apostolos & Rajoo, Srithar & Martinez-Botas, Ricardo & Esfahanian, Vahid, 2017. "A review of Battery Electric Vehicle technology and readiness levels," Renewable and Sustainable Energy Reviews, Elsevier, vol. 78(C), pages 414-430.

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