In a Conventional EV Charger electricity goes from the electric grid into the electric car in unidirectional (one-way). However, in a bi-directional EV charger, electricity flows both from electric grid to vehicle and also from vehicle back to grid (bi-directional). Vehicle-to-Grid (V2G) technology is the technology than enables EV Chargers to transfer back energy stored in EV batteries back to grid.
Vehicle-to-Grid (V2G) technology opens new opportunities for smart energy management and electricity trading. With renewable energy peaking volume V2G provides unique opportunity to utilities to access the energy stored in vehicles that can help them mitigate grid bottlenecks & load demands.
What is V2G Technology ?
Conventionally, the power stored in EV batteries is used exclusively for driving. Bi-directional V2G charging points make EV charging bi-directional meaning charged vehicles have the ability to feed stored energy back into the grid network. The technology also has transformative potential for energy markets.
V2G creates additional revenue opportunities by sharing & intelligently using the crucial, under-utilized resource of EV batteries.
Benefits of V2G Technology
1. Better RoI for Electric Vehicles
EV Owners and fleet operators can make money with their standstill fleet by putting power back to the grid and reduce their energy costs by buying electricity at cheaper rates. By making money from their standstill EV, owners & fleet operators can reduce the time, their investment pays off, thereby increasing the Return on Investment (RoI) for their electric vehicles.
2. Grid Stabilisation
In case of increase in electricity demand, V2G contributes to grid-stabilisation as electric vehicles start feeding-in surplus energy back to grid. This offers utilities to help stabilize fluctuation power.
3. Better for Renewables
The technology makes integrating renewables more efficient, mitigating grid bottlenecks and minimizing grid volatility. V2G supports in balancing the grid and smoothly integrating renewables. V2G enables utilities to become less dependant from fossil fuel power plants.