The potential for Vehicle-to-Grid technology (V2G) is huge. Not only can it help to decarbonize the transportation sector, but it can also help to stabilize the grid, provide backup power during outages, and even generate revenue for EV owners.
If you hadn't already heard of V2G, it is most definitely a technology worth getting excited about for several reasons:
It has the ability to decarbonize the transportation sector
Using a smart charger, V2G lets owners/operators charge their cars with renewable energy. When there is excess renewable energy being generated and prices are low, the EV will choose to charge, but when demand is higher and the grid is being powered by fossil fuels, the vehicle will hold off from charging. This way, they can make sure that the power coming from the grid to charge their car is from clean sources.
It can help to stabilize the grid
When there are lulls in demand, vehicles will charge using the cheaper renewable energy on offer, but when demand spikes, V2G-enabled EVs can function as a distributed storage system and send power back to the grid. This can help to even out spikes and supply a more stable and reliable power supply. Not only that, the energy provided back will be cleaner energy from renewable sources, thus reducing our reliance on fossil fuels.
Turning point for renewable energy
Many see V2G as a turning point for renewables because, unlike fossil fuels which in their raw state are essentially a form of energy storage (like a battery), renewable energy if not used immediately will need to be stored or it will be wasted. In the UK alone there are already half a million EVs registered on the road, and, with the 2030 deadline to end the sale of internal combustion engine vehicles looming, that number is set to dramatically increase, therefore meaning that the number of vehicles plugged in and able to join the V2G distributed storage system.
V2G can provide backup power during outages
We've all been there - the power goes out and we're left in the dark. But if you have a V2G-enabled EV, you can use its stored energy to power your home or business until the grid is back up and running.
Allows owners/operators to generate revenue from their EV
Arguably the most intriguing feature V2G offers is that when the grid needs more power, whether due to a sudden demand or an outage, your EV can supply power back to the grid, and you'll be compensated for it. This way, you can offset the cost of charging your car and even make a profit as the energy can be sold back at a higher cost than you initially paid for it.
Battery Health
Finally, one of the benefits of V2G is that bidirectional charging is actually better for the health of your vehicle's battery. Constantly charging and discharging your battery will degrade it over time, but with V2G, the vehicle is only ever drawing a partial charge or discharge. This results in slower degradation of the battery, meaning it will last longer and you won't have to replace it as often, if ever.
So, are you excited yet?