Economic Value Assessment of Vehicle-to-Home (V2H) Operation under Various Environmental Conditions

Kwanghun Chung and Jong-Hyun Ryu ()
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Kwanghun Chung: College of Business Administration, Hongik University, 94 Wausan-ro, Mapo-Gu, Seoul 04066, Republic of Korea
Jong-Hyun Ryu: College of Business Management, Hongik University, 2639 Sejong-ro, Jochiwon-eup, Sejong 30016, Republic of Korea

Energies, 2024, vol. 17, issue 15, 1-16

Abstract: The rise of electric vehicles (EVs) has initiated a significant transformation in both the transportation and energy sectors. With the increasing adoption of EVs, their interaction with the power grid is becoming more critical. A notable and innovative concept emerging in this context is Vehicle-to-Home (V2H) operations, which utilize the battery storage capabilities of EVs to meet residential energy demands. Our research provides a way of economically evaluating V2H operations under various environmental conditions including pricing, seasonal differences, and EV operations. The proposed model aids in understanding the optimal operation of V2H and identifying the factors that encourage its adoption. Furthermore, optimizing V2H use can promote renewable energy utilization, providing an additional solution to address its intermittent nature. The findings highlight the potential of V2H operations to contribute to more economically efficient energy systems, provided that supportive policies and adaptive technologies are in place.

Keywords: vehicle-to-home (V2H); smart grid; electric vehicle (EV); energy storage system (ESS); renewable energy; dynamic programming (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: 2024
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