| Summary/Abstract |
Vehicle-to-Anything (V2X) is an umbrella term to explain the use of electric vehicle batteries to derive additional value during times of non-use. V2X services generate revenue from the battery asset through dynamic (V1X) or bi-directional (V2X) charging to provide benefits to the electric grid, to reduce energy consumption of buildings and homes, or to provide back-up power to loads. While relatively unknown and still regarded as a nascent technology, V2X exhibits low capital costs and enabling costs have decreased by 90% since 2014.
We present the V2X Value Stream Framework as a means to better communicate and categorize its full economic potential. A meta-analysis of Value Stream potential gives results contradictory to the literature and indicates that Bill Management, Resource Adequacy, and Network Deferral are more valuable than Energy Arbitrage and Spinning Reserves. We distinguish between Energy and Power Value Streams and show how the latter cause less battery degradation and allow for greater stacking of services. Finally, energy policy recommendations are given to better integrate V2X. While we concur that development is of and by the market, we emphasize that V2X will develop within the constraints of the regulatory environment; therefore regulators have an enabling role to play.
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