Automakers such as General Motors and Volvo Cars together with utilities and charging application operators are gradually becoming more interested in how they can be economically involved as the more capable of two-way power trading EVs are getting popular with each day. The technology namely bidirectional or car-to-grid, which allows EV owners to charge their vehicles during low usage time and then sell the electricity when the grids need it most for profit at peak demand periods.
According to Nick Woolley, CEO of the UK software firm ev.energy, the aggregate capacity of up to a million EVs could match up with that of a large nuclear power plant for a short period of time. Before, V2G was mainly theory, and Nissan Leaf was its only viable application that had a few capabilities. Nevertheless, the advent of smart electric meters, AI technologies, and also the creative endeavours of forward-thinking energy companies are gradually bringing about this change.
The major automotive brands like Tesla, BMW, Volkswagen, Renault and Toyota, are expected to launch V2G equipped models in the coming future. China’s major enterprises like BYD also have been striving, in line with the Chinese government’s aggressive visions for V2G by 2030. Doron Frenkel, the CEO of EV charging platform Driivz, states the monetisation of electricity distribution, with the company having connected millions of EVs via its white-label charging software it offers to automakers and other businesses.
In the United States, V2G and bidirectional charging is in an experimental stage, while Germany has difficulty with grid pricing due to regulations. Moreover, bidirectional chargers are currently more costly than their conventional counterparts as manufacturers have limited output scales. Though down in the UK, Octopus Energy has launched a V2G tariff, paying for charging for customers who attach their EVs to the plug overnight.