Profitability optimized bidirectional electric vehicle charging in a Nordic prosumer household

This study demonstrates that the increasing number of electric vehicles (EVs) and the potential of these vehicles to contribute to energy management as a property battery through vehicle-to-everything (V2X) technologies can generate profit for the EV owner. The focus of this study is on vehicle-to-grid (V2G) and vehicle-to-home (V2H) applications. The research aims to illustrate the advantages of integrating V2X with solar photovoltaic (PV) for private households, particularly in optimizing an EV with bidirectional charging to reduce the electricity costs of the household. The study uses real-world data from a Finnish household, including PV production and electricity consumption, and applies optimization algorithms to simulate the potential economic gains from V2X. Key findings indicate that V2X can be economically beneficial, especially during periods of high electricity price fluctuations. The study also emphasizes the importance of EV availability and PV production for maximizing these benefits. The study concludes that while V2X technologies offer promising opportunities for cost savings, their effectiveness is highly dependent on market conditions and the specific characteristics of the household and the EV usage.