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.
Go deeper with Bing News on:
V2G
- 3 Ways Silicon Carbide Paves the Future Path for EVs
On top of that, bidirectional charging, or vehicle-to-grid (V2G) technology, can transform EVs into mobile energy-storage units, contributing to grid stability and renewable-energy integration. With ...
- Nuvve and Great Power Announce Strategic Partnership to Accelerate Electric Vehicle Integration and Renewable Energy Adoption
Nuvve Holding Corp. ("Nuvve") (Nasdaq: NVVE), a global technology leader accelerating the electrification of transportation through its proprietary energy management and aggregation platform, and ...
- NYISO Selects CPower as Aggregator in Cutting Edge New York VPP Market Plan
The NYISO has chosen three aggregators for early participation in the program, starting with Baltimore-based energy management firm CPower Energy. The company will aggregate ...
- Stock Market Crash Alert: 7 Must-Buy EV Charging Stocks When Prices Plunge
InvestorPlace - Stock Market News, Stock Advice & Trading Tips Jon Wolfenbarger, a 32-year market veteran warns that despite the seemingly ...
- Future Self-Driving EVs Must Plug Themselves In. How Will They?
Cars that go charge themselves are the ideal, and also a solution for the power grid, plugging themselves in when solar power is surplus and cheap ...
Go deeper with Google Headlines on:
V2G
[google_news title=”” keyword=”V2G” num_posts=”5″ blurb_length=”0″ show_thumb=”left”]
Go deeper with Bing News on:
Vehicle-to-grid
- Nuvve, Great Power form strategic partnership to accelerate EV integration
U.S. vehicle-to-grid startup Nuvve Holding (NASDAQ:NVVE) and Guangzhou Great Power Tuesday announced a strategic partnership to accelerate stationary storage battery deployments and their integration ...
- China Is Quietly Reinventing The Truck Industry — Are The U.S. And Europe Missing The Boat?
China’s EV wave doesn’t end with passenger cars. Trucks are next in line— and advancements in battery swapping could have implications across the global supply chain.
- Stock Market Crash Alert: 7 Must-Buy EV Charging Stocks When Prices Plunge
InvestorPlace - Stock Market News, Stock Advice & Trading Tips Jon Wolfenbarger, a 32-year market veteran warns that despite the seemingly ...
- Automakers hope for a cut as two-way EV charging becomes real
Automakers from General Motors to Volvo Cars , alongside utilities and charging app operators are calculating their financial cut as EVs that allow their owners to sell power back to grids become a ...
- Powering Your House with an EV During an Outage
Power outages are extremely inconvenient and disruptive to day-to-day life. During an outage, many will resort to generators which can be cumbersome, but what if your EV could send power from its ...
Go deeper with Google Headlines on:
Vehicle-to-grid
[google_news title=”” keyword=”vehicle-to-grid” num_posts=”5″ blurb_length=”0″ show_thumb=”left”]
