Table 14 Key findings, challenges and recommendations of economic Impacts.
From: Analysis of multidimensional impacts of electric vehicles penetration in distribution networks
Impact | Key findings | Research challenges | Recommendations |
|---|---|---|---|
Initial cost | Compared to ordinary vehicles, EVs with V2G are more expensive due to their high initial costs, yet reduction in operations and emissions can be achieved in regions with high fossil fuel taxes and low electricity prices | Despite EVs long-term savings, their total cost of owning (TCO) play an important role in consumer decision-making since the initial cost of EVs presents a significant barrier to their adoption | Direct research efforts towards simplifying V2G technology, reduce its initial costs and decrease EV batteries cost and degradation |
Economic acceptance | Economic factors (as governmental subsidies, manufacturer’s cash incentives, total cost of owning (TCO) a BEV, fuel costs and battery prices) affect EVs economic acceptance and tend to close the price gap between traditional automobiles and EVs | Still many governments lack robust subsidies and incentives’ policies thus affecting EV acceptance and adoption Limited literature considering factors like fuel consumption variations for urban and highway trips and finance interest rates which should be addressed and analyzed | Subsidies benefit the vehicle-manufacturers as they lead to increased production and sales of BEVs, thus boosting economic activity Learn from countries which witnessed a noticeable shift to e-mobility as Norway owing to robust incentive programs, including significant tax breaks, reduced parking fees and access to bus lanes making EVs more affordable |
V2G commercialization | EV-owners’-based studies reveal that there are other potential barriers against V2G adoption, the most important of which is consumer unawareness of grid integration benefits as well as their concerns of privacy and loss of control. Thus, to accelerate its adoption, V2G commercialization is mandatory | Challenges in V2G market exist as lack of a comprehensive compilation regarding types of EVs in the market, absence of a solid V2G business model and the shortage of governmental incentives and stakeholders as well as no serious steps are taken towards V2G commercialization | Implementing new e-trading schemes, enabling incorporation of RESs and setting special tariff structures for co-location of EVs and RESs to increase the revenue of EVs’ owners from V2G Creating proper awareness among EV owners Development of economic viability metrics and models for charging stations infrastructure Benefits of V2G technology is based on collaborations, funding, technology maturation |
