Impact of electric vehicle V2G operation and demand response strategies for smart households

The mature bulk power system requires to meet the needs of 21th century in terms of efficient and effective utilization of electric energy, together with the capability of accommodating recently growing renewable energy resources penetration. As a new idea of modernizing the current grid structure, the smart grid issue is a widely growing area of interest with investments from developed/developing country governments. As the smart grid solutions enable active consumer participation, demand response (DR) strategies have drawn much interest as such strategies provide consumers the chance for the real-time control of their consumption to reduce their bills, while utilities can lower the peak power value to be supplied to consumers. As a new type of consumer load in the electric market, electric vehicles (EVs) also provide different opportunities, including the capability of utilizing EVs as a storage unit via vehicle-to-grid (V2G) option instead of peak power procurement from utility. This study aims to discuss the impacts of different DR strategies and EV owner consumer preferences on the reduction of total electricity prices. Different case studies are conducted to better analyze the price reduction potential of different operating strategies.