Electric Vehicles and Batteries as Domestic Storage Units in the United Kingdom

Abstract

This paper assesses the economic feasibility of Vehicle-to-Home (V2H) and domestic battery systems in the United Kingdom (UK) via calculating the savings by switching to different tariffs. To do the analysis, a UK average Electric Vehicle (EV) and domestic battery have been established; called UKEV and UKBat respectively. The UKEV characteristics were determined by taking a weighted average from the five highest selling EVs in the UK. An arithmetic mean was found for the individual UKBat features from seven models available on the UK market. The UKEV and UKBat were compared under four scenarios. These are Ofgem’s two domestic electricity profile classes (PC1, PC2) and two existing time-of-use tariffs; one with two and the other with three rates during a day. At medium battery degradation rate, maximum annual savings for the consumer was estimated to be around £94 and £147 per year for the EV and battery, respectively.