Vehicle-to-Grid (V2G) chargers enable drivers to discharge and sell surplus energy stored in their electric vehicle’s battery back to the grid.
The appeal of V2G technology is its ability to feed the grid electricity at peak times, helping reduce demand on electrical infrastructure.
However, with the roll-out of one-way smart chargers which enable scheduled charging and tariff integration, V2G technology has taken a back seat.
A new study suggests this could cost motorists money, with V2G offering substantial electricity bill savings versus one-way smart chargers.
Customers could earn up to £725 with V2G technology
According to a report, entitled ‘Project Sciurus Trial Insights: Findings from 300 Domestic V2G Units in 2020‘, customers could save £340 per year on electricity compared with £120 with one-way smart charging.
They could save up to £513 for Firm Frequency Response or £725 for Dynamic Containment. These latter two options enable customers to provide grid services from their V2G chargers via Kaluza’s smart platform.
Initial costs of V2G are still high – but they are already falling
The report found that the cost of V2G hardware and installation was around £3,700 more than a smart charge point. However, when V2G is rolled out en masse, this cost could come down. A cost of around £1,000 would mean the payback period would be ‘comfortably below’ five years for customers on tariff optimisation, for example.
What did participants of the trial have to say?
Initially, they were concerned about the costs and reliability of the technology, such as battery degradation. However, after the trial, those concerns had been alleviated, and participants reported that ‘it was important to them that their next EV had V2G capability’.
Speaking of the trial, Conor Maher-McWilliams, Head of Flexibility at Kaluza, said the V2G trial ‘has provided some of the earliest insights into how the technology works in the real world and what is needed for it to be rolled out at scale’.
Chris Russell, Managing Director at OVO Drive, OVO Energy, said he hoped the trial ‘acts as a blueprint for wider adoption to ensure we collectively unlock the huge environmental opportunity that electric vehicles offer’.