Vehicle to Grid tech coming of age

Officials celebrate as electric vehicle-to-grid technology sells power to PJM power grid

V2G is the acronym for vehicle to grid technology. The University of Delaware is a leader in this effort, and their for-profit spin-off Nuvve has been testing this technology in Denmark where they are looking at this solution to help buffer their offshore wind farms. The Nuvve literature states that “during this trial it was determined that each car on average could earn $2,500 per year by participating in Nuvve’s V2G solution.” That is a big incentive, particularly when viewed over the life of the battery. The value of load balancing may be higher in markets with high renewable penetration. Given that the IEA are expecting battery costs to come down to about $300/Kwh by 2020 from $1,000/Kwh in 2008 the economic picture is likely to improve. There is great potential for synergy between electric vehicles and greater renewable generation. While there is debate about how much storage greater renewable integration may require and when it will be necessary, the emerging role of “storage as a service” could prove to be significant.

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