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Can Vehicle-to-Grid Revenue Help Electric Vehicles on the Market?

  • George R. Parsons

    ()

    (Department of Environmental and Natural Resource Economics, University of Delaware)

  • Michael K. Hidrue

    ()

    (Department of Economics, University of Delaware)

  • Willett Kempton

    ()

    (Department of Electrical & Computer Engineering, University of Delaware)

  • Meryl P. Gardner

    ()

    (Department of Business Administration, University of Delaware)

Vehicle-to-grid (V2G) electric vehicles can return power stored in their batteries back to the power grid and be programmed to do so at times when power prices are high. Since providing this service can lead to payments to owners of vehicles, it effectively reduces the cost of electric vehicles. Using data from a national stated preference survey (n = 3029), this paper presents the first study of the potential consumer demand for V2G electric vehicles. In our choice experiment, 3029 respondents compared their preferred gasoline vehicle with two V2G electric vehicles. The V2G vehicles were described by a set of electric vehicle attributes and V2G contract requirements such as “required plug-in time” and “guaranteed minimum driving range”. The contract requirements specify a contract between drivers and a power aggregator for providing reserve power to the grid. Our findings suggest the V2G concept is mostly likely to help EVs on the market if power aggregators operate on pay-as-you-go-basis or provide consumers with advanced cash payment (upfront discounts on the price of EVs) in exchange for V2G restrictions.

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File URL: http://graduate.lerner.udel.edu/sites/default/files/ECON/PDFs/RePEc/dlw/WorkingPapers/2011/UDWP2011-21.pdf
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Paper provided by University of Delaware, Department of Economics in its series Working Papers with number 11-21.

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Length: 37 pages
Date of creation: 2011
Date of revision:
Handle: RePEc:dlw:wpaper:11-21.
Contact details of provider: Postal: Purnell Hall, Newark, Delaware 19716
Phone: (302) 831-2565
Fax: (302) 831-6968
Web page: http://www.lerner.udel.edu/departments/economics/department-economics/

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  1. Peter Boxall & Wiktor Adamowicz, 2002. "Understanding Heterogeneous Preferences in Random Utility Models: A Latent Class Approach," Environmental & Resource Economics, European Association of Environmental and Resource Economists, vol. 23(4), pages 421-446, December.
  2. Hidrue, Michael K. & Parsons, George R. & Kempton, Willett & Gardner, Meryl P., 2011. "Willingness to pay for electric vehicles and their attributes," Resource and Energy Economics, Elsevier, vol. 33(3), pages 686-705, September.
  3. Kempton, Willett & Tomic, Jasna & Letendre, Steven & Brooks, Alec & Lipman, Timothy, 2001. "Vehicle-to-Grid Power: Battery, Hybrid, and Fuel Cell Vehicles as Resources for Distributed Electric Power in California," Institute of Transportation Studies, Working Paper Series qt5cc9g0jp, Institute of Transportation Studies, UC Davis.
  4. Kempton, Willett & Tomic, Jasna & Letendre, Steven & Brooks, Alec & Lipman, Timothy, 2001. "Vehicle-to-Grid Power: Battery, Hybrid, and Fuel Cell Vehicles as Resources for Distributed Electric Power in California," Institute of Transportation Studies, Working Paper Series qt0qp6s4mb, Institute of Transportation Studies, UC Davis.
  5. Bliemer, Michiel C.J. & Rose, John M., 2011. "Experimental design influences on stated choice outputs: An empirical study in air travel choice," Transportation Research Part A: Policy and Practice, Elsevier, vol. 45(1), pages 63-79, January.
  6. R. K. Blamey & J. W. Bennett & M. D. Morrison, 1999. "Yea-Saying in Contingent Valuation Surveys," Land Economics, University of Wisconsin Press, vol. 75(1), pages 126-141.
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