How Much Electricity Sharing Will Electric Vehicle Owners Allow from Their Battery? Incorporating Vehicle-to-Grid Technology and Electricity Generation Mix

Abstract

Global trends and prospects of environmentally friendly transportation have helped to popularize electric vehicles (EVs). With the spread of EVs, vehicle-to-grid (V2G) technology is gaining importance for its role in connecting the electricity stored in the battery of EVs to a grid-like energy storage system (ESS). Electricity generation mix and battery for V2G energy storage have a decisive effect on the stabilization of a V2G system, but no attempt has been made. Therefore, this study analyzes consumer preference considering the electricity generation mix and battery for the V2G. We conduct a conjoint survey of a 1000 South Koreans and employ the multiple discrete-continuous extreme value model. The results show that drivers prefer plug-in hybrid- and battery EVs to other vehicles. Additionally, findings show that driver’s utility changes at 27.9% of the battery allowance for V2G system and it becomes positive after 55.7%. Furthermore, we conduct a scenario analysis considering the electricity generation mix (more traditional vs. renewable) and battery allowance. Based on this analysis, we suggest some policies and corporate strategies to support the success of the V2G market depending on energy policies and battery allowance level.