Vehicle-to-grid as a competitive alternative to energy storage in a renewable-dominant power system: An integrated approach considering both electric vehicle drivers' willingness and effectiveness

Vehicle-to-grid (V2G) technology, which enables bidirectional power flow between electric vehicles (EVs) and power grids, is a possible solution for integrating EVs and renewable energy (RE) into the power system. While EV drivers are indispensable components for the V2G applications, the extant power system studies have underexamined the willingness of EV drivers to participate in V2G. In addition, few studies investigate whether the small-scale and time-varying V2G supply can replace utility-level energy storage. Given this background, this study combined discrete choice experiments with energy storage capacity expansion planning (ES-CEP) to simulate time-varying V2G participation and effectiveness. The choice experiments identified drivers’ preferences for V2G, which was used to simulate V2G participation under different compensation schemes. Time-varying V2G participation was integrated into ES-CEP for renewable-dominant power system to assess the potential of V2G to replace ES at the utility scale. The results showed that most drivers were unlikely to engage in V2G, although this reluctance decreased during the night. Higher guaranteed state-of-charge, accessible V2G facilities, and monetary enrollment compensation encouraged the participation. The ES-CEP results showed that, even with a limited V2G (4.5–15.3 % of EV drivers), V2G significantly reduced the optimal ES capacity (36.5–45.6 % for power and 39.6–60.6 % for energy), shaved peak netload by 18.5 %, and saved the total cost by 3.35 %, even after accounting for V2G enrollment compensation and battery degradation. EVs that charged during the daytime and participated in V2G at night were the most utilized, resulting in 0.92 % of annual battery aging, but generated a profit of 636,749 KRW (553 USD). The findings of this study underscore the importance of a suitable compensation scheme for V2G and supplementary measures for incentivizing EV charging during off-peak hours, as these elements are essential for the successful implementation of V2G.