Smart charging could secure multi-million net system benefits

A feasibility study into vehicle-to-grid (V2G) technologies has revealed that residential V2G charging could be viable in the near term.

Published on Monday 24 June, the Element Energy led study, V2GB, explained a 7kW residential V2G charger could capture over £400/yr in revenues in ideal circumstances. Furthermore, V2G could see £200mn of cumulative distribution network investment by 2030 and savings of £40-90mn a year by 2030, while smart charging may see Britain’s energy system generate net savings of £180mn/yr..

However, it stressed work was still needed to be done to ensure near-term viability is achievable.

The study’s recommendations included that the industry work to reduce V2G hardware cost “significantly” to achieve wider uptake, for viable commercial models to be developed to depreciate the assets over 10 years and for consumer concerns about range and battery impacts to be removed.

Element Energy