Energy arbitrage using second-life electric vehicle battery: A feasibility study based on CU-BEMS data

Abstract

This study explores energy storage from repurposed EV batteries. For storage sizing, 18 months of actual load profiles from a building energy management system are employed to avoid the shortcomings of a general representative load profile. Ambient temperature is used to evaluate battery performance throughout the project. Our battery degradation models have a higher R-squared than previous studies, making our study unique. Battery deterioration is analyzed using off-peak energy arbitrage and solar energy arbitrage, which use full and half cycles per day and offer different yields. Economic evaluation uses net present value and IRR. The study indicated electricity prices drive return period. The sensitivity analysis shows that off-peak energy arbitrage is not practicable for the 10-year project, but a battery cost of $50 to $60 per kWh and operational temperatures below 35 °C would make solar energy arbitrage profitable.