LAPSE:2023.34285
Published Article
LAPSE:2023.34285
Virtual Storage-Based Model for Estimation of Economic Benefits of Electric Vehicles in Renewable Portfolios
Josip Vasilj, Damir Jakus, Petar Sarajcev
April 25, 2023
The expected increase in the presence of electric vehicles raises numerous questions regarding their impact on the market relations. Depending on the agreement between the involved parties, the position of EVs changes from passive (traditional role) to active. Active EVs are beneficial for variability and uncertainty-intense modern power systems. To enable this transition, a suitable framework in the form of agreements is required in order to establish the terms and responsibilities. Following the presented agreements, we propose a novel method for evaluation of the benefits that the newly added EVs bring to the portfolio. The method comprises two steps, a Monte Carlo simulation of the EV driving/charging patterns and an optimization model for market related decision making. The method results in the estimates on economic savings resulting from adding EVs to portfolios. An illustrative example is used in order to give an idea of the range of the benefits.
Keywords
EV fleet management, market aggregator, Monte Carlo simulation, Stochastic Optimization, virtual storage
Suggested Citation
Vasilj J, Jakus D, Sarajcev P. Virtual Storage-Based Model for Estimation of Economic Benefits of Electric Vehicles in Renewable Portfolios. (2023). LAPSE:2023.34285
Author Affiliations
Vasilj J: Faculty of Electrical Engineering, Mechanical Engineering and Naval Architecture, University of Split, 21000 Split, Croatia
Jakus D: Faculty of Electrical Engineering, Mechanical Engineering and Naval Architecture, University of Split, 21000 Split, Croatia
Sarajcev P: Faculty of Electrical Engineering, Mechanical Engineering and Naval Architecture, University of Split, 21000 Split, Croatia
Journal Name
Energies
Volume
13
Issue
9
Article Number
E2315
Year
2020
Publication Date
2020-05-06
Published Version
ISSN
1996-1073
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Original Submission
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PII: en13092315, Publication Type: Journal Article
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LAPSE:2023.34285
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doi:10.3390/en13092315
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Apr 25, 2023
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CC BY 4.0
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Apr 25, 2023
 
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