Prices must be brought down if vehicle-to-grid (V2G) charging technologies are to roll out across the UK and realise their full potential, according to Tom Pakenham, Director of electric vehicles (EVs) at OVO and Kaluza.
Pakenham explained that V2G technologies were capable of unlocking the potential of the car in ways that smart charging “just doesn’t”, but stressed V2G chargers would have to be available for less than £4,000 to encourage consumer adoption. He explained that to get consumers to buy V2G chargers at any kind of schedule, a payback of ten years is “what the average mindset works like”.
His comments followed a report by Element Energy which had also recommended the industry work to reduce V2G hardware cost “significantly” if wider uptake is to be achieved. The same report found a 7kW residential V2G charger could capture over £400 a year in revenues, while could bring in savings of £40-90mn each year by 2030.