A New Framework of Vehicle-to-Grid Economic Evaluation: From Semi-Systematic Review of 132 Prior Studies

Vehicle-to-Grid (V2G) technology enables electric vehicles (EVs (Unless otherwise specified, Electric Vehicles (EVs) in this study refer to the totality of BEVs, PHEVs, and other battery-equipped vehicles that have the potential to participate in V2G)) to interact with renewable energy sources, positioning it as a key driver of energy system decentralization. While V2G holds significant potential for enhancing grid stability and economic efficiency, its large-scale deployment requires a robust economic assessment. However, existing research predominantly focuses on technical feasibility, lacking comprehensive economic evaluations due to the complexity of V2G system architectures. To bridge this gap, we propose the BSTP (Business-Stakeholders-Technology-Policy) V2G economic evaluation framework and the VRR (Value Realization Rate) methodology, employing a Semi-Systematic Co-Design Approach. This framework systematically characterizes the evolution of V2G business models, the interactions among key stakeholders, the influence of technological and policy factors, and the criteria for economic feasibility assessment. Furthermore, we identify a “Big Models, No Trials” issue in V2G economic research, where large-scale theoretical models lack empirical validation. To address this challenge and ensure the practical applicability of our framework, we define six core challenges that must be resolved for a rigorous economic evaluation of V2G. Our findings provide a structured foundation for future research and policy development, offering insights that could accelerate the transition to decentralized energy systems.