Hybrid Energy System Optimization and Pricing Analysis on V2G

With increasing energy demand and sustainability goals, there would be additional pressure on the domestic energy supply capability to meet such demands, and poor energy supply would potentially lead to power shortages, blackouts, and even irreversible consequences. To deal with such an issue, we proposed an optimization model for maximizing the power output of a hybrid energy system, meanwhile, the adoption of renewable energies is guaranteed in the formulation as well as minimized costs to prevent the overuse of non-renewable energies. The results indicated that solar power possesses the greatest potential in generating clean power, accounting for 29.1% of the total power output. In addition, a pricing analysis on vehicle-to-gird is built to visualize the relationship between the reselling price and the reselling amount, so that it serves as a secondary power source to further compensate for the increasing energy demand. By conducting such an analysis, both V2G agents can benefit either by recognizing the required budget to purchase extra power or by understanding the potential profit of reselling energy via V2G. This work sheds light on improving the amount of power generated, future energy policies on transitioning to renewable energies, pricing implications, and potential market framework for realizing the true potential of vehicle-to-grid technologies.