Economic motivation for electric vehicles participation in power market

Abstract

The article examines one of possible ways to solve the daily electric load demand balancing for power system on the basis of the economic motivation of plug-in hybrid, electric vehicles and vehicle-to-grid technology owners. Implementation of this technology has several economic and social advantages, such as additional revenue stream for cleaner vehicles, increased stability and reliability of the electric grid, lower electric system costs and backup for RES operation. To investigate the daily electric load demand, load profiles, electricity demand and production from 2010 to 2013 were analyzed and the consumption of electricity load for 2020 was considered. Economic motivation for EV participation in power markets is based on two-part network tariffs, with price difference for on-peak and off-peak energy. The impacts effects resulting from of the EVs integration into electrical distribution networks reduces the cost of charging for electric vehicles owners.