First, capacity degradation of GV batteries in their automotive life and second life have been modelled, according to their practical exposure in the discharge process. Thus cost recovery from Proposed system model for efficient and economic use of GVs Although techniques for efficient use of battery energy have been proposed, participation rates of GV owners in bi-directional energy transactions are still below expectations. While the primary purpose of using GV batteries as energy storage units is to facilitate the integration of RESs and ensure sustainability of power systems, excessive cost of batteries and the unpredictable battery decay process have necessitated new approaches to cost recovery from GV batteries. Section snippets Relevant works and research challenges A model that provides these solutions is the goal of this research. Two important considerations, before using these retired GV batteries, are: (i) whether the retired batteries are suitable for other applications from power and energy content perspectives, and (ii) how long these batteries continue to serve other applications profitably. In general, GV batteries are retired from their automotive life when they reach 70–80% of their initial capacity however, they can still be used for other applications, requiring less power and energy content, in a second life. Second use of GV batteries can refund a portion of the initial battery cost if batteries in their second life can be used to serve other applications. Primary battery costs are expected to decline to an acceptable range with the progression of battery technologies and scale of production, but the timeline is uncertain. While GVs solve a major problem of storing surplus energy and delivering it to the grid, battery capacity degradation and the useful automotive lifetime have concerned GV owners due to the high cost of GV batteries. Gridable vehicles (GVs),such as plug-in hybrid vehicles (PHEVs) and electric vehicles (EVs) with the capacity of charging/discharging from/to the utility grid, are important for complementing renewable energy sources (RESs) to sustain the utility grid supply. Simulation results show that the proposed model can contribute up to 19.56% of the initial battery purchase cost, while still ensuring economic load dispatch.
Finally, an economic load dispatch model with the inclusion of second life revenue has been developed to establish that using GV batteries in this way would earn extra revenue thus contributing to the initial buying price and encouraging more GV participation in the smart grid. Cost of battery energy both in automotive and second life have also been modelled that informs the owners of the revenue potentials, especially from the second life use. In this paper, capacity degradation and the remaining energy of a GV battery at different operating cycles have been quantified in both their automotive and second lives. However, this is dependent on the remaining capacity of the battery and the capacity degradation rate both in the automotive and second life. Second use of GV batteries, after their automotive life, can generate some revenue for the owners to recover a part of their battery purchase cost. Battery lifetime and revenue earning potential are influential factors for GV owners considering whether to participate in the V2G program. The success of a smart grid system with GVs heavily depends on the market penetration of GVs and their participation rate in the vehicle-to-grid (V2G) program. Electric vehicles (EVs) and plug-in hybrid electric vehicles (PHEV) with vehicle-to-grid capability, referred to as “gridable vehicles” (GVs), have become a useful choice for storage devices in the smart grid environment.
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