V2Market is an innovative service to incorporate the Electric Vehicles’ (EV) batteries into the electricity system as storage and flexibility capacity, using Vehicle-to-Grid (V2G) and Vehicle-to-Building (V2B) technology combined with energy efficiency (EE) and price forecasting ICT tools. V2Market puts together all the relevant actors in the value chain to work on the definition of the role and the contractual arrangements of a new business case, the aggregator, and its different possibilities with the other key stakeholders: the EV owners, and the flexibility buyers (DSO, TSO, BRP).
V2Market will tackle energy efficiency at different levels:
- Efficiency at the system level, by providing flexibility services to the grid.
- Efficiency at the building/end user level, by optimising energy management thanks to the incorporation of the EV battery, which will also facilitate an optimisation of the energy produced by local RES.
- Efficiency resulting from the substitution of older fossil-fuel based vehicles for electric vehicles.
- It will make the EV battery an independent asset (as a major cost item that needs to be managed separately).
This will result in measurable energy savings and performance improvements for the overall energy system. To respond to these EE needs, V2Market will develop a comprehensive business case for aggregators based on two types of service:
A – Provision of ancillary services to the grid (frequency regulation, spinning reserves, peak shifting).
B – Integration of flexibility services with EE at buildings’ level.
V2Market will help the aggregator to develop its business model, and use big data to tailor its services to the patterns of its pool of EV owners. This is intended to consolidate a more predictable pool of EV batteries, which can be useful to develop also contractual arrangements with the flexibility buyers and provide stability to all the transactions within the value chain.
Fields of science
Call for proposal
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Funding SchemeCSA - Coordination and support action