Economic Valuation of Vehicle-Grid Integration (VGI) in a Demand Response Application from Each Stakeholder’s Perspective

Yongma Moon, Joongseok Ahn, Wonchang Hur, Wooje Kim and Kwangsup Shin
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Yongma Moon: College of Business Administration, University of Seoul, Seoul 130743, Korea
Joongseok Ahn: College of Business Administration, University of Seoul, Seoul 130743, Korea
Wonchang Hur: College of Business Administration, Inha University, Incheon 431050, Korea
Wooje Kim: College of Business and Technology, Seoul National University of Science and Technology, Seoul 139743, Korea
Kwangsup Shin: Graduate School of Logistics, Incheon National University, Incheon 406772, Korea

Energies, 2021, vol. 14, issue 3, 1-15

Abstract: Recently, the use of electric vehicles in a power grid has been attracting attention. The success of vehicle-grid integration (VGI) requires the active participation of not only VGI service providers but also electric vehicle owners, utility companies, and the government in the VGI service. However, until now, such research has not been sufficiently discussed. Thus, we propose a framework for analyzing the economic environment in which each stakeholder can participate, especially in the application of a demand response, and derive its economic value in Korea. Also, through the proposed framework, we suggest optimal scenarios and policy directions for each participant’s successful business. Our results show that government and a utility company need to share their benefits with a VGI service provider to make VGI a success.

Keywords: vehicle-grid integration (VGI); stakeholder; demand response; economic analysis (search for similar items in EconPapers)
JEL-codes: Q Q0 Q4 Q40 Q41 Q42 Q43 Q47 Q48 Q49 (search for similar items in EconPapers)
Date: 2021
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1)

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