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Virtual Storage-Based Model for Estimation of Economic Benefits of Electric Vehicles in Renewable Portfolios

Author

Listed:
  • Josip Vasilj

    (Faculty of Electrical Engineering, Mechanical Engineering and Naval Architecture, University of Split, 21000 Split, Croatia)

  • Damir Jakus

    (Faculty of Electrical Engineering, Mechanical Engineering and Naval Architecture, University of Split, 21000 Split, Croatia)

  • Petar Sarajcev

    (Faculty of Electrical Engineering, Mechanical Engineering and Naval Architecture, University of Split, 21000 Split, Croatia)

Abstract

The expected increase in the presence of electric vehicles raises numerous questions regarding their impact on the market relations. Depending on the agreement between the involved parties, the position of EVs changes from passive (traditional role) to active. Active EVs are beneficial for variability and uncertainty-intense modern power systems. To enable this transition, a suitable framework in the form of agreements is required in order to establish the terms and responsibilities. Following the presented agreements, we propose a novel method for evaluation of the benefits that the newly added EVs bring to the portfolio. The method comprises two steps, a Monte Carlo simulation of the EV driving/charging patterns and an optimization model for market related decision making. The method results in the estimates on economic savings resulting from adding EVs to portfolios. An illustrative example is used in order to give an idea of the range of the benefits.

Suggested Citation

  • Josip Vasilj & Damir Jakus & Petar Sarajcev, 2020. "Virtual Storage-Based Model for Estimation of Economic Benefits of Electric Vehicles in Renewable Portfolios," Energies, MDPI, vol. 13(9), pages 1-19, May.
    • Handle: RePEc:gam:jeners:v:13:y:2020:i:9:p:2315-:d:354658
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    References listed on IDEAS

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    1. Muhammad Huda & Tokimatsu Koji & Muhammad Aziz, 2020. "Techno Economic Analysis of Vehicle to Grid (V2G) Integration as Distributed Energy Resources in Indonesia Power System," Energies, MDPI, vol. 13(5), pages 1-16, March.
    2. Vasilj, J. & Sarajcev, P. & Jakus, D., 2016. "Estimating future balancing power requirements in wind–PV power system," Renewable Energy, Elsevier, vol. 99(C), pages 369-378.
    3. Olauson, Jon & Bergkvist, Mikael, 2016. "Correlation between wind power generation in the European countries," Energy, Elsevier, vol. 114(C), pages 663-670.
    4. Ângelo Casaleiro & Rodrigo Amaro e Silva & João Serra, 2020. "Plug-in Electric Vehicles for Grid Services Provision: Proposing an Operational Characterization Procedure for V2G Systems," Energies, MDPI, vol. 13(5), pages 1-12, March.
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    Cited by:

    1. Alicia Triviño & José M. González-González & José A. Aguado, 2021. "Wireless Power Transfer Technologies Applied to Electric Vehicles: A Review," Energies, MDPI, vol. 14(6), pages 1-21, March.

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