A Novel Method to Value the EV-fleet's Grid Balancing Capacity

Each day, every second, imbalance occurs in our electricity grid. In Belgium, the grid operator has to solve these imbalances with the help of previously contracted Balance Responsible Party (BRP). In this study, we develop a methodology to model the behavior of a fleet of coordinated Vehicle to Grid (V2G) enabled EVs. This allows us to explore to what extent such a fleet could participate in an imbalance tariff and how much value is generated with this activity. To do this, we start by modelling individual V2G-EV characteristics and driving behavior. We then extrapolate to model fleet behavior to be able to assess the fleet’s balancing capacity at each moment of a given time period. For our empirical setting, Belgium, our results show that the total expected value that could be generated by V2G balancing services ranges from EUR 2.35M to EUR 9.67M per year and from 906 to 664 EUR per EV in 2023