V2G Brings Money for Consumers and Providers Alike, Study Claims

Vehicle-to-grid (V2G) technology coupled to a growing number of EVs could save consumers on energy bills while boosting supplier’s coffers to the tune of $2Bn a year annually.

That’s the findings of a report by ABI Research suggesting the the bi-directional flow of energy from the grid to the vehicle, and vice versa, could enable consumers to save as much as $272 per year and bring significant cost-savings and additional revenues global energy suppliers by 2025.

It claims V2G will not only enable consumers to make cost savings of up to 15% on their household energy bill but will also shift the greatest electricity demand from peak to off-peak hours. ABI Research forecasts up to 21TWh of energy could be distributed to the grid through V2G in 2025, yet this is just be a fraction of the 585 TWh of spare energy storage available predicted on EVs over the same year. This could enable energy markets to more efficiently regulate fluctuating renewable energy sources, such as wind and solar, by creating off-peak storage.

Shiv Patel, research analyst at ABI Research, said: “V2G could be a real game-changer in how energy is not only consumed but also generated. V2G will be used to build on existing smart charging principals of encouraging energy use during off-peak hours. However, what’s unique about V2G is that it will enable some of this energy to be distributed back to the grid via bi-directional charging, for use during peak hours.”

Less encouraging, according to the report, is the current lack of automaker support for V2G technology which could see a large proportion of the EV market will be shut off from using V2G. It cites Nissan as one of the few EV leaders in committing to V2G technology  although the China Electricity Council (CEC) and the CHAdeMO association have decided to unify their charging standards which should allow V2G to become available on the most popular charging standard in the world, GB/T.

“If important players like OEMs, energy suppliers, transmission system operations and aggregators can continue to come together, then there is no reason why current market barriers can’t be overcome. When they are, V2G will benefit all stakeholders, from consumers to OEMs, and have a huge impact on the way energy itself is used,” Patel concluded. These findings are from ABI Research’s Vehicle-to-Grid Technologies and Applications report.

— Paul Myles is a seasoned automotive journalist based in London. Follow him on Twitter @Paulmyles_

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