Exploring economic profit of EV aggregators in supplying flexibility services through V2G

Vehicle-to-Grid (V2G) is a key technology for enabling Electric Vehicles (EVs) as a promising flexibility source in decarbonized power systems. Effective deployment of V2G relies on the aggregation of numerous dispersed EVs and the coordination of their charge/discharge power profiles considering expected charging times and market signals in order to effectively respond to grid operator requests. The entity responsible for orchestrating this coordination process, known as the Electric Vehicles Aggregator (EVA), copes with the challenge of solving complex and correlated decision-making problems over multiple time scales, ranging from day-ahead to near real-time, and in the presence of numerous and heterogeneous sources of uncertainty. However, despite the maturity of V2G technology and existing frameworks to address complex multi-temporal issues, there is no full knowledge about conditions enabling remunerated V2G-based grid services. Moreover, the impact of V2G-related policies on power system players is unexpectedly overlooked. This lack of knowledge reduces V2G's attractiveness to stakeholders, limiting its effectiveness. Therefore, this paper explores the relationship between stakeholder satisfaction and V2G economic convenience. A numerical analysis conducted daily over one year, using a multi-stage framework developed by the authors, defines the boundary conditions for profitable V2G deployment. Detailed simulation results, based on real market data, illustrate the impact of uncertainty on enabling conditions for profitable V2G highlighting V2G availability during the day, EVA remuneration, and the satisfaction of both EV users and system operators.