Economic and climate benefits of vehicle-to-grid for low-carbon transitions of power systems: A case study of China's 2030 renewable energy target.

More and more attention has been given to the role of electric vehicles in reducing the economic cost and carbon emissions of the power system through the vehicle-to-grid (V2G) mode, as well as helping to integrate renewable energy power. The promotion of V2G mode needs to consider the effectiveness of policy costs, so it is urgent to estimate the potential benefits of V2G. In this paper, a multi-regional power dispatch and expansion model is constructed from the perspective of power system by taking China's plan to reach 1.2 billion kW of installed wind and photovoltaic power generation capacity in 2030 as an example, combining with the development planning of electric vehicles and power systems. The results show that by 2030, the implementation of unidirectional V2G and bidirectional V2G in China can reduce the total cost of power system by 2.02% and 2.08%, reduce the annual carbon emissions of the power system by 2.27% and 2.95%, and increase the total proportion of wind and photovoltaic power generation by 1.33% and 1.28% in the power mix. An increasing proportion of electric vehicles participate in V2G increases the proportion of new-installed wind generation and decreases that of photovoltaic power. Due to the high cost of battery degradation and the current power mix dominated by coal-fired generation, additional benefits of implementing bidirectional V2G over unidirectional V2G are limited. • V2G reduces the total power cost, carbon emissions, and renewables' curtailment. • Increasing the proportion of EVs participating in V2G improves potential benefits. • V2G changes the proportion of newly installed wind and solar power generation. • V2G shifts the electricity production from high-cost areas to low-cost areas. • Additional benefits of bidirectional V2G over unidirectional V2G are limited. [ABSTRACT FROM AUTHOR]