Browse > Article
http://dx.doi.org/10.15266/KEREA.2021.30.2.237

The Economics Value of Electric Vehicle Demand Resource under the Energy Transition Plan  

Jeon, Wooyoung (Chonnam National University, Department of Economics)
Cho, Sangmin (Korea Energy Economics Institute)
Cho, Ilhyun (Korea Energy Economics Institute)
Publication Information
Environmental and Resource Economics Review / v.30, no.2, 2021 , pp. 237-268 More about this Journal
Abstract
As variable renewable sources rapidly increase due to the Energy Transition plan, integration cost of renewable sources to the power system is rising sharply. The increase in variable renewable energy reduces the capacity factor of existing traditional power capacity, and this undermines the efficiency of the overall power supply, and demand resources are drawing attention as a solution. In this study, we analyzed how much electric vehicle demand resouces, which has great potential among other demand resources, can reduce power supply costs if it is used as a flexible resource for renewable generation. As a methodology, a stochastic form of power system optimization model that can effectively reflect the volatile characteristics of renewable generation is used to analyze the cost induced by renewable energy and the benefits offered by electric vehicle demand resources. The result shows that virtual power plant-based direct control method has higher benefits than the time-of-use tariff, and the higher the proportion of renewable energy is in the power system, the higher the benefits of electric vehicle demand resources are. The net benefit after considering commission fee for aggregators and battery wear-and-tear costs was estimated as 67% to 85% of monthly average fuel cost under virtual power plant with V2G capability, and this shows that a sufficient incentive for market participation can be offered when a rate system is applied in which these net benefits of demand resources are effectively distributed to consumers.
Keywords
Electric Vehicle; Renewable Energy; Demand Response; Distributed Resource; Time of Use Tariff(TOU); Virtual Power Plant(VPP); Smart Charging;
Citations & Related Records
연도 인용수 순위
  • Reference
1 Jeon, W. and J. Y. Mo, "The True Economic Value of Supply-Side Energy Storage in the Smart Grid Environment - The case of Korea," Energy Policy, Vol. 121, 2018, pp. 101~111.   DOI
2 NEA, Nuclear Energy and Renewables: System Effects in Low-carbon Electricity Systems, 2012.
3 Zamani, A. G., A. Zakariazadeh, and S. Jadid, "Day-ahead resource scheduling of a renewable energy based virtual power plant," Applied Energy, 2016, 169p.
4 교통안전공단, 「2014년 자동차 운행기록분석」, 2014.
5 산업통상자원부, 「제8차 전력수급기본계획」, 2017.
6 전력거래소, 「전력거래통계시스템(EPSIS)」, 2020.
7 현대차그룹, 「전기차 충전요금, 얼마나 들까?, 현대차그룹 사내기사」, 2019.
8 Bruninx, K., E. Delarue, H. Ergun, K. May, K. Bergh, and D. Hertem, Determining the impact of renewable energy on balancing costs, back up costs, grid costs and subsidies, KU Leuven, 2016.
9 Tuohy, A. and M. O'Malley, "Pumped storage in systems with very high wind penetration," Energy Policy, 2011, 39p.
10 Lee, J., J. Lee, and Y. Wi, "Impact of Revised Time of Use Tariff on Variable Renewable Energy Curtailment on Jeju Island," Electronics, 2021.10, 135p.
11 Ueckerdt, F., L. Hirth, G. Luderer, and O. Edenhofer, "System LCOE: What are the costs of variable renewables?," Energy, Vol. 63, 2013, pp. 61~75.   DOI
12 Zimmerman, R. D. and C. E. Murillo-Sanchez, Multi-Period SuperOPF Problem Formulation, 2013.
13 제주연구원, 「전기차 동향 및 통계 월간 리포트」, 2018.
14 산업통상자원부, 「제9차 전력수급기본계획」, 2020.
15 손상훈, 「제주 전기차 일평균 주행거리: 전기차 및 충전기 이용실태와 향후 정책 과제」, 2019.
16 전우영, "확률적 전력계통망 최적화모형 구축 연구", KEEI 기본연구보고서, 2015.
17 환경부, 「2050 장기저탄소발전전략」, 2020.
18 환경부, 「실구매자 이용실태 조사 분석을 통한 전기차 보급 활성화 연구 용역」, 2017.
19 대한민국정부, 「미래자동차 산업 발전 전략-2030년 국가 로드맵, 관계부처 합동」, 2019.
20 산업통상자원부, 「제3차 에너지기본계획」, 2019.
21 Dubey, A., S. Santoso, M. Cloud, and M. Waclawiak, "Determining Time-of-Use Schedules for Electric Vehicle Loads: A Practical Perspective," IEEE Power and Energy Technology Systems Journal, Vol. 2, No. 1, 2015, pp. 12~20.   DOI
22 IRENA, Electric-Vehicle Smart Charging Innovation Landscape Brief, 2019.
23 Jeon, W., A. J. Lamadrid, J. Y. Mo, and T. Mount, "Using Deferrable Demand in a Smart Grid to Reduce the Cost of Electricity for Customers," Journal of Regulatory Economics, Vol. 47, No. 3, 2015, pp. 239~272.   DOI
24 Zimmerman, R. D., C. E. Murillo-Sanchez, and R. J. Thomas, "Matpower: Steady-State Operations, Planning and Analysis Tools for Power Systems Research and Education," IEEE Transactions on Power Systems, Vol. 26, No. 1, 2011, pp. 12~19.   DOI