Economic Viability of Second Use Electric Vehicle Batteries for Energy Storage in Residential Applications

Madlener, Reinhard; Kirmas, Alexander

doi:10.1016/j.egypro.2017.03.890

Cited by 68 publications

(26 citation statements)

References 7 publications

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“…Further, interest and inflation rates are estimated as mentioned in Table 9 according to other publications [9][10][11][12]. The cumulated revenues are calculated as follows: sum(revenues) = Σ t cash flow(t) • (1 + interest rate)¯ᵗ (3) with t representing the number of elapsed years. Figure 3, 4 and 5 present the cumulated PV home storage revenues in Euros (€) of a 22-kWh EV battery after a 20-year lifespan of uninterrupted operation in order to estimate the maximum allowable battery and installation costs for each of the applications.…”

Section: Resultsmentioning

confidence: 99%

“…At present, there are a number of papers, which review energy storage technologies and summarise options for stationary applications. Similar model approaches in literature often solely discuss PV systems and partially neglect Li-ion ageing [3,4]. Therefore, this research work will highlight handled cumulated energy, energy losses and degradation after a lifetime of twenty years.…”

Section: Introductionmentioning

confidence: 98%

See 1 more Smart Citation

Techno-Economic Evaluation of Energy Storage Systems Built from EV Batteries – Prospective Revenues in Different Stationary Applications

et al. 2018

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Battery energy storage systems (BESSs) are already being deployed for several stationary applications in a technically and economically feasible way. This paper focuses on the revenues of industrial BESSs built from electric vehicle lithiumion batteries with varying states of health. For this analysis, a stationary BESS simulation model is used, that is parameterised with parameters of a 22-kWh automotive battery. The comprehensive model consists of several detailed sub-models, considering battery characteristics, ageing and operating strategies, which allow technical assessment through time series simulation. Therefore, capacity fade and energy losses are considered in this techno-economic evaluation. Potential economically feasible applications of new and second-life batteries, such as photovoltaic home storage, intraday trading and frequency regulation as well as their combined operation are compared. The investigation includes different electricity price scenarios. The combined operation, followed by frequency regulation, is found to have the highest economic viability for the specified electric vehicle battery.

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Section: Resultsmentioning

confidence: 99%

Section: Introductionmentioning

confidence: 98%

Techno-Economic Evaluation of Energy Storage Systems Built from EV Batteries – Prospective Revenues in Different Stationary Applications

et al. 2018

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“…Echelon utilization: the batteries retired from the original products can be used in other applications with relatively low requirements on battery performance [24][25][26][27]. Theoretically, this kind of secondary utilization can be performed many times, which is the so-called multi-level echelon utilization.…”

Section: Main Modes Of Power Battery Reusingmentioning

confidence: 99%

Research on the Critical Issues for Power Battery Reusing of New Energy Vehicles in China

Liu

Hao

et al. 2020

Energies

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With the rapid development of new energy vehicles (NEVs) industry in China, the reusing of retired power batteries is becoming increasingly urgent. In this paper, the critical issues for power batteries reusing in China are systematically studied. First, the strategic value of power batteries reusing, and the main modes of battery reusing are analyzed. Second, the economic benefit models of power batteries echelon utilization and recycling are constructed. Finally, the economic benefits of lithium iron phosphate (LIP) battery and ternary lithium (TL) battery under different reusing modes are analyzed based on the economic benefit models. The results show that when the industrial chain is fully coordinated, LIP battery echelon utilization is profitable based on a reasonable scenario scheme. However, the multi-level echelon utilization is only practical under an ideal scenario, and more attention should be paid to the first level echelon utilization. Besides, the performance matching of different types of batteries has a great impact on the echelon utilization income. Thus, considering the huge potentials of China’s energy storage market, the design of automobile power batteries in the future should give due consideration to the performance requirements of energy storage batteries. Moreover, the TL battery could only be recycled directly, while the LIP has the feasibility of echelon utilization at present. At the same time, it will strengthen the cost advantage of the LIP battery, which deserves special attention.

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“…Indeed, many demonstration projects and a few commercial ventures exist. Concepts range from off-vehicle storage to buffer EV charging from the grid [8,9], to modelling studies of home batteries that can save on electricity bills by increasing onsite usage of rooftop PV [10,6].…”

Section: Introductionmentioning

confidence: 99%

“…An alternative for potential second-life users is to design the system under a range of different battery cost scenarios, and pick an option passively in response to the market [10,19]. This may be adequate for a one-off investment, but not if batteries must be replaced over the system lifetime (wind turbines and solar panels may last over 25 years, compared to 15 years or less, even for new batteries).…”

Section: Introductionmentioning

confidence: 99%

Effects of market dynamics on the time-evolving price of second-life electric vehicle batteries

Sun

Chipperfield

Kiaee

et al. 2018

Journal of Energy Storage

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Second-life batteries are defined as those removed from electric vehicles (EVs) when their energy density and power density has degraded below the level required for motive applications but are still performant enough for less demanding stationary applications. They could one day be a plentiful, environmentally benign source of low-cost energy storage. Their price evolution is important to know for designers of and investors in such systems. A methodology is developed for predicting second-life battery price and sales quantities up to 2050. Although existing data is too scant to draw reliable quantitative conclusions, sensitivity analyses are run to investigate the effects of different EV uptake scenarios, new battery costs, refurbishment costs, recycling net credit, elasticity of supply, and size of demand. No previous work has incorporated all these driving factors in such a transparent way. The second-life price is found to be insensitive to most of these factors, while the quantity sold is sensitive to nearly all of them. Much work remains to be done in parameterizing the model more accurately. However, this work already elucidates a novel quantitative mode of thinking about what factors influence the long-term price and market size of second-life batteries.

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Economic Viability of Second Use Electric Vehicle Batteries for Energy Storage in Residential Applications

Cited by 68 publications

References 7 publications

Techno-Economic Evaluation of Energy Storage Systems Built from EV Batteries – Prospective Revenues in Different Stationary Applications

Techno-Economic Evaluation of Energy Storage Systems Built from EV Batteries – Prospective Revenues in Different Stationary Applications

Research on the Critical Issues for Power Battery Reusing of New Energy Vehicles in China

Effects of market dynamics on the time-evolving price of second-life electric vehicle batteries

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