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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