This new technology allows you to make money off of your EV battery. A trial on three-year vehicle-to-grid (or V2G) has found that customers who use the new technology have the potential to earn up to £725 every year. A V2G charger offers drivers the chance to discharge and sell surplus electricity from their electric vehicle batteries back into energy at times of peak demand, making people money in a time where most are complaining about how expensive it is.
The team of researchers at Project Sciurus, a four-business coalition including OVO Energy in the UK, developed what they claim to be the world’s largest rollout of V2G technology. The findings from their trial suggest that this new type of power charging could save customers an average £340 per year and reduce carbon emissions by as much as nine percent.
The findings show that by enabling the V2G chargers to provide grid services, there is a difference of £513 for Firm Frequency Response and an additional £725 in Dynamic Containment.
Alongside this, It was found that by enabling the V2G chargers to provide grid services under various scenarios, a difference in average output is seen. By providing Firm Frequency Response during times of high demand up until 2030 and Dynamic Containment at peak hours with an increased number of renewable generation sources coming online after 2020 has been reached, it can be expected for these savings on energy costs outweighing any initial capital investment required.
However, the downside here is that this new technology is costly to install, with hardware that researches found cost £3,700 more than a generic smart charge point.
In contrast to this, it is still believed that mass production could lower the cost some. In the past, people were only plugging in their cars for an average of 57% of time during a lockout. But now that lockdowns are more common, those same car owners are upping their game by charging up 70% of the time – and it’s making all the difference.