The problem of calculating the possible revenue from storage and EV charging assets is not a simple one to solve. This is due to the through time consequences of each decision to either charge or discharge the asset. Additionally, there is a challenge of modelling many assets together in order to provide sufficient flexibility (both in power capacity and through time coverage) to enter into central flexibility markets.
The REVOLVE model has been developed by Cenex with the aim of providing realistic revenue calculations and charging schedules for Smart Charging, V2G and Battery Storage propositions.
Possible insights from our perfect foresight optimisation model:
- Average annual income from grid services for a V2G charge point within a larger V2G portfolio.
- Annual savings due to increased PV self-consumption for a PV + EV combination.
- Energy costs for a site with renewables, a grid constraint and a battery.
- Savings from smart charging with any given half hourly time of use tariff.
- Additional energy from renewables consumed due to an onsite battery.
- The operation and revenue for a stationary battery in balancing services.
- How much value Smart charging can capture versus V2G?