Owners of Nissan Leafs in the United Kingdom are able to take advantage of vehicle-to-grid capability, which allows for two-way flows of electricity for owners to charge up their battery or to draw on that when it’s needed by the grid.
This technology harnesses the ability for grid operators to meet over 25 percent of peak power demand by 2030, but faces major challenges due to utility monopolies’ policies. In the U.S., many consumers are unable to take advantage of this innovative technology because utilities block consumers from doing so. It underscores the need to unleash the power of competition and provide consumers the opportunity to not only choose their provider but also to generate and sell their own energy.
Learn more about electric vehicles below or at Bloomberg Green.
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“With major car manufacturers from Bayerische Motoren Werke AG to Fiat SpA rolling out new models of electric vehicles, the global push to electrify transport is gathering momentum. Demand from cars will make up 10% of total power use in the U.S. and Europe by 2040, according to BloombergNEF, Bloomberg L.P.’s clean-energy research group. But battery-powered cars could supply power, too. In the U.K., which along with the U.S. is leading the way in vehicle-to-grid projects, tapping into vehicle batteries would enable grid operators to meet more than a quarter of peak power demand by the end of the decade.
For Ovo Chief Executive Stephen Fitzpatrick, one of the first challenges was to understand what might motivate customers to participate. Those in the trial got more than 3 million miles of free driving, with Ovo paying for charging, as well as the chance to reduce home energy bills. By feeding the battery power into the grid, vehicle owners get paid like energy suppliers.
Convenience was a key consideration for Kershaw, 50. “I’m based at home and I knew that at peak times my vehicle would be at home fully charged,” he said. “I’ve been able to just change over to the vehicle to grid charger and not change any of my routines at all.””