A comprehensive optimization framework to maximize vehicle-to-grid revenues: Combining multi-market power trading with frequency containment reserve

Electric vehicles (EVs) with bidirectional charging capability have the potential to become a key contributor to storage capacity required for the energy transition. Therefore, their flexibility could be aggregated and integrated into the electricity markets. This integration may be accomplished via arbitrage trading, where the EVs are charged at low prices and discharged at high prices. Additionally, EVs can support grid stability by providing ancillary services like frequency containment reserve (FCR). Trading on multiple electricity markets can be described as multi-market power trading. In this article, we introduce a model that optimizes the power trading of bidirectionally chargeable EVs at different energy markets and the FCR market. Since the activation of FCR is not predictable, we exclude the FCR activation from the optimization and depict it in a subsequent algorithm-based simulation. The model application demonstrates high revenue potential, particularly compared to state-of-the-art arbitrage trading on a single market. The results illustrate the high relevance of multi-market power trading for future vehicle-to-grid business models.