What Is Vehicle-To-Grid Technology?

V2G is an innovative technology that enables the national grid to use energy stored in electric cars during times of increased demand. In effect, each EV has the potential to contribute power back to the grid via the vehicle-to-grid technology at times of increased demand, also sometimes referred to as Demand Side Response.

Why Should An EV Owner Bother About V2G?

The V2G technology offers owners of electric cars the opportunity to charge an EV battery at off-peak rates and sell the power at times of increased demand, usually peak hours. Off-peak rates have lower tariffs while peak rates have higher tariffs resulting in cost efficiencies for EV owners i.e. making you cash!

Is Vehicle-To-Grid Technology Tried And Tested?

In general, it is still at early stages, with a number of companies announcing developing V2G technology for EV’s. In December 2018, OVO Energy installed the first vehicle-grid-charger in a customers home. OVO had announced its V2G charging solution in April 2018 and is also involved with the UK government £30 million V2G competition, which also includes the Nissan Leaf, the first electric car with V2G technology.

To Who Will I Sell The Power From My EV Battery?

An EV owner will be able to sell the power to the National Grid or to another aggregator, utility or supplier.

Do I Have To Be At Any Specific Location Close To The Grid To Take Advantage Of V2G?

No. You can take advantage of V2G sitting in the comfort of your home enjoying a cup of tea, whilst your EV parked in the garage evacuates the power to the grid. You will need to install a V2G charger that allows bi-directional charging. If the V2G charger is also installed in your workplace, then you could also sell electricity while your car is parked at work.

Apart From Cost Savings, Are There Any Other Advantages Of V2G Technology?

Yes. Buy allowing the grid to balance demand and supply using the power in EV’s, the grid is less dependent on sourcing power from other generators of electricity to include coal fired power plants. This will inevitably result in a reduction in carbon dioxide emissions. Another significant benefit is that the scaling of V2G services will reduce the financial impact and operational burden on the national grid to upgrade its systems to meet the impending increase in EV adoption in the UK.

Does e-zoomed Have A View On V2G?

Yes, we do. We believe in the long term, the overall impact of V2G implementation will be very positive for a number of stakeholders, in particular, the EV owner. However, much more clarity is needed on the cost of implementation of V2G for the EV owner and the validation of the financial benefits to the EV driver. We also believe there needs to be further clarity on any negative impact on battery life and performance (i.e. increased battery degradation) from the bi-directional and increased cycles of the EV battery.


Author

Ashvin Suri

Ashvin has been involved with the renewables, energy efficiency and infrastructure sectors since 2006. He is passionate about the transition to a low-carbon economy and electric transportation. Ashvin commenced his career in 1994, working with US investment banks in New York. Post his MBA from the London Business School (1996-1998), he continued to work in investment banking at Flemings (London) and JPMorgan (London). His roles included corporate finance advisory, M&A and capital raising. He has been involved across diverse industry sectors, to include engineering, aerospace, oil & gas, airports and automotive across Asia and Europe. In 2010, he co-founded a solar development platform, for large scale ground and roof solar projects to include the UK, Italy, Germany and France. He has also advised on various renewable energy (wind and solar) utility scale projects working with global institutional investors and independent power producers (IPP’s) in the renewable energy sector. He has also advised in key international markets like India, to include advising the TVS Group, a multi-billion dollar industrial and automotive group in India. Ashvin has also advised Indian Energy, an IPP backed by Guggenheim (a US$ 165 billion fund). He has also advised AMIH, a US$ 2 billion, Singapore based group. Ashvin has also worked in the real estate and infrastructure sector, to including working with the Matrix Group (a US$ 4 billion property group in the UK) to launch one of the first few institutional real estate funds for the Indian real estate market. The fund was successfully launched with significant institutional support from the UK/ European markets. He has also advised on water infrastructure, to include advising a Swedish clean technology company in the water sector. He is also a member of the Forbury Investment Network advisory committee. He has also been involved with a number of early stage ventures.

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