United States of America
United Arab Emirates
Taiwan (Chinese Taipei)
Electric vehicles (EV) are quiet, clean and can store electric power to drive for 300 km or more. Often the energy used by the EV has been generated by renewable sources like sun, water or wind, which can be sporadic at times. As the number of EVs on the road is predicted to rise to 559 million by 2040, the world’s energy ecosystem needs to evolve to support the EV transition and to mitigate fluctuating power generation.
As a global market leader in charging solutions for EVs ABB recently introduced a first solution that enables EV drivers to feed excess energy back to the grid operator. This bidirectional technology, called Vehicle-to-Grid (V2G) is currently available via utilities and big fleet operators and enables the influx of excess energy to act like a buffer and stabilize the power grid in specific projects.
The tapping into more and more batteries from EVs will be of great value to energy networks and utilities. The V2G technology will further support the use of renewable energy and help to make the overall network more reliable. V2G technology will encourage a more active way of consuming energy and could create additional revenue possibilities too. For instance, EV owners could sell back their excess energy to grid during the day, and then recharge their batteries of their EV for less money at night when the tariffs are usually lower.
Electricity flows in two directions
Helps stabilize fluctuating power in the grid
Enables EV owners to sell back excess energy