E-Mobility and Batteries—A Business Case for Flexibility in the Arctic Region
This paper provides a method for determining the economic incentives and limitations for a battery used for peak clipping, with the goal of finding an optimal mix between the battery’s power density and energy density. A ratio called the R-factor has been introduced, which helps determine the energy...
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Multidisciplinary Digital Publishing Institute
2023
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Online Access: | https://doi.org/10.3390/wevj14030061 |
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ftmdpi:oai:mdpi.com:/2032-6653/14/3/61/ 2023-08-20T04:04:17+02:00 E-Mobility and Batteries—A Business Case for Flexibility in the Arctic Region Bernt Bremdal Iliana Ilieva Kristoffer Tangrand Shayan Dadman 2023-02-28 application/pdf https://doi.org/10.3390/wevj14030061 EN eng Multidisciplinary Digital Publishing Institute https://dx.doi.org/10.3390/wevj14030061 https://creativecommons.org/licenses/by/4.0/ World Electric Vehicle Journal; Volume 14; Issue 3; Pages: 61 batteries flexibility investment demand response Text 2023 ftmdpi https://doi.org/10.3390/wevj14030061 2023-08-01T09:02:17Z This paper provides a method for determining the economic incentives and limitations for a battery used for peak clipping, with the goal of finding an optimal mix between the battery’s power density and energy density. A ratio called the R-factor has been introduced, which helps determine the energy demand to curb the peak. The paper’s results embrace different investment scenarios showing what battery capacity can be expected, dependent on interest rates, payback time and potential savings in power tariffs due to curtailment. In addition, the paper introduces the “wrench and cut” concept, which can help improve the investment case for batteries by combining battery operations with standard demand response operations. In particular, the effect of using a limited form of demand response-based load deactivation together with a battery has been analyzed. The investigation provided raises a point that battery degradation must be taken into account to prevent the reduction of battery life and possibly the needed payback period. The ultimate target of the presented research refers to vehicle-to-grid/vehicle-to-building developments in the Arctic region, where a vehicle is considered a mobile battery and where flexibility can be delivered in a cost-efficient way. Text Arctic MDPI Open Access Publishing Arctic World Electric Vehicle Journal 14 3 61 |
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MDPI Open Access Publishing |
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ftmdpi |
language |
English |
topic |
batteries flexibility investment demand response |
spellingShingle |
batteries flexibility investment demand response Bernt Bremdal Iliana Ilieva Kristoffer Tangrand Shayan Dadman E-Mobility and Batteries—A Business Case for Flexibility in the Arctic Region |
topic_facet |
batteries flexibility investment demand response |
description |
This paper provides a method for determining the economic incentives and limitations for a battery used for peak clipping, with the goal of finding an optimal mix between the battery’s power density and energy density. A ratio called the R-factor has been introduced, which helps determine the energy demand to curb the peak. The paper’s results embrace different investment scenarios showing what battery capacity can be expected, dependent on interest rates, payback time and potential savings in power tariffs due to curtailment. In addition, the paper introduces the “wrench and cut” concept, which can help improve the investment case for batteries by combining battery operations with standard demand response operations. In particular, the effect of using a limited form of demand response-based load deactivation together with a battery has been analyzed. The investigation provided raises a point that battery degradation must be taken into account to prevent the reduction of battery life and possibly the needed payback period. The ultimate target of the presented research refers to vehicle-to-grid/vehicle-to-building developments in the Arctic region, where a vehicle is considered a mobile battery and where flexibility can be delivered in a cost-efficient way. |
format |
Text |
author |
Bernt Bremdal Iliana Ilieva Kristoffer Tangrand Shayan Dadman |
author_facet |
Bernt Bremdal Iliana Ilieva Kristoffer Tangrand Shayan Dadman |
author_sort |
Bernt Bremdal |
title |
E-Mobility and Batteries—A Business Case for Flexibility in the Arctic Region |
title_short |
E-Mobility and Batteries—A Business Case for Flexibility in the Arctic Region |
title_full |
E-Mobility and Batteries—A Business Case for Flexibility in the Arctic Region |
title_fullStr |
E-Mobility and Batteries—A Business Case for Flexibility in the Arctic Region |
title_full_unstemmed |
E-Mobility and Batteries—A Business Case for Flexibility in the Arctic Region |
title_sort |
e-mobility and batteries—a business case for flexibility in the arctic region |
publisher |
Multidisciplinary Digital Publishing Institute |
publishDate |
2023 |
url |
https://doi.org/10.3390/wevj14030061 |
geographic |
Arctic |
geographic_facet |
Arctic |
genre |
Arctic |
genre_facet |
Arctic |
op_source |
World Electric Vehicle Journal; Volume 14; Issue 3; Pages: 61 |
op_relation |
https://dx.doi.org/10.3390/wevj14030061 |
op_rights |
https://creativecommons.org/licenses/by/4.0/ |
op_doi |
https://doi.org/10.3390/wevj14030061 |
container_title |
World Electric Vehicle Journal |
container_volume |
14 |
container_issue |
3 |
container_start_page |
61 |
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1774714683087912960 |