Electricity Grid Schematic English (Photo credit: Wikipedia)
How can EVs help or hurt the electric grid?
A potentially lucrative new market is emerging around the exchange of energy between plug-in vehicles and the electrical grid, particularly as more low-carbon power generation sources come online.
So-called vehicle-to-grid (V2G) technologies are enabling electric vehicle (EV) batteries to provide ancillary services to the grid that can complement intermittent renewable energy sources or shave demand during peak hours — something utilities, automakers and consumers are seeing as a business opportunity.
According to a new report by Navigant Research, global V2G frequency regulation revenue is expected to reach $190.7 million by 2022. North America represents the strongest initial market opportunity for EVs as a grid service.
The U.S. Department of Defense is making a big bet on V2G technology as a way to reduce dependence on foreign oil and cut down on its enormous energy bill. Earlier this year, DOD announced it will invest $20 million to test 500 V2G-enabled electric cars, the largest pilot project of its kind (Greenwire, Feb. 5, 2013).
Several large automakers, including Toyota Motor Corp., General Motors Co. and BMW AG, are also interested, viewing grid services as a way to boost the value of the EVs they produce.
But while it’s technically feasible to hook electric vehicles up to the grid and leverage their energy storage capacity, it may not be all that desirable in practice.
One problem is that vehicles are inherently mobile.
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V2G
- Vehicle-To-Grid (V2G) Market Key Business Strategies by Leading Industry Players by 2026on February 25, 2021 at 11:28 am
The increase in demand for charging stations across the globe fuels the growth of the vehicle-to-grid (V2G) market over the forecast period. Top impacting factors: Market scenario analysis ...
- Electric Nation Vehicle to Grid project announces British Gas as final partneron February 19, 2021 at 3:56 am
A project run by Western Power Distribution (WPD) and CrowdCharge to demonstrate how electric vehicles (EVs) can provide V2G services – such as selling power back to the national grid – Electric ...
- Electric Vehicle Market worth 27 million units by 2030on February 14, 2021 at 11:16 pm
Use of vehicle-to-grid (V2G) EV charging stations Vehicle-to-grid (V2G) EV charging is a system that has a bi-directional electrical energy flow between plug-in EVs and the power grid. V2G ...
- Newborn Acquisition Corp. Urges All Shareholders to Vote in Favor of the Extension Proposalson February 12, 2021 at 11:27 am
Newborn Acquisition Corp. ("Newborn" or the "Company") (NASDAQ:NBAC), encourages its shareholders to vote in favor of the extension proposals. The purpose of the ...
- Grid-to-Vehicle (V2G) System Market Innovations, Trends, Technology And Applications Market Report To 2021-2026on February 10, 2021 at 6:09 pm
The market report named the Global Grid-to-Vehicle (V2G) System Market analysis and forecast is a part of an extensive study of the Grid-to-Vehicle (V2G) System market across the world.
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V2G
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Vehicle-to-grid
- Texas Blackouts Show Us How Electric Vehicles Can Help Solve Big Problemson February 26, 2021 at 6:35 pm
EVs can help power homes and buildings in disasters — but only if automakers, utilities, local emergency planners and regulators start working on it now.
- Vehicle-To-Grid (V2G) Market Key Business Strategies by Leading Industry Players by 2026on February 25, 2021 at 11:28 am
Vehicle-to-grid is a system that is used by electric vehicles such as battery electric vehicles (BEV), plug-in hybrids (PHEV) or hydrogen fuel cell electric vehicles (FCEV). With vehicle-to-grid ...
- Inside the UK's largest domestic vehicle-to-grid projecton February 24, 2021 at 8:59 am
Ovo's technology arm Kaluza provides BusinessGreen with a fresh look at the platform behind Project Sciurus, the world's largest domestic vehicle to grid project ...
- Tesla needs to lead the world on vehicle-to-grid charging — get on it, Muskon February 22, 2021 at 6:19 am
Power outages in Texas have highlighted the potential that electric cars, like Teslas, have for powering homes when the main grid is out of action.
- Electric Nation Vehicle to Grid project announces British Gas as final partneron February 19, 2021 at 3:56 am
The Electric Nation Vehicle to Grid project has announced British Gas as its final partner in a diverse range of energy suppliers. A project run by Western Power Distribution (WPD) and CrowdCharge to ...
