Numerous industry players have already explored the electric vehicles‘ capability to serve as giant power banks for household applications. The concept is most commonly known as “Vehicle-to-Grid” or V2G technology. It allows owners to collect and store electricity from solar power and use them at night.
How V2G tech aids Aussies to save money from electricity bills?
In that sense, Australian EV owners are taking advantage of this concept to reduce their household energy bills. One of them is Winemaker Joseph Evans from South Australia.
Evans reportedly employs solar power to store energy in its next-gen electric vehicle and utilize it to power his home and even his business overnight. By doing so, he claims to save $2500 annually from electricity bills.
“It is pretty much a saving of $2500 a year. In the middle of summer or the middle of winter, you’ve got the aircon cranking, it’ll last us two days.”
Winemaker Joseph Evans
That said, it is no wonder why Flinders University experts are actively working to advance V2G technology with the Australian government’s support.
“These cars are four times the charging capacity of standard current domestic batteries.”
Colin Stirling, Professor at Flinders University
In addition, EV owners may also leverage public charging stations to store power in their cars for no cost. Then, they can use the energy to power their households, enabling them to save a significant amount on electricity bills. Moreover, they can also earn some money by returning the excess energy from their cars back to the power grid.
“This is good news for the grid, this is good news for retail prices, this is good news for consumers.”
Energy Minister Tom Koutsantonis
See Also:
- Users can earn up to $15,000 for EVs with a V2G charger
- General Motors partners with PG&E to explore EV capabilities for V2H, V2G, and Virtual Power Plants
- Toyota and Oncor to explore EV technology with new V2G pilot program
- Virta enters Australia with “superfast” chargers and V2G
- California introduces a law that requires bidirectional charging capability for EVs
However, it must be noted that electric vehicle models with V2G capabilities remain limited in the market. That said, it is unsurprising that most of these EVs have an astounding $50,000 base price.
“For the normal household, it’s still probably years away before they can afford and legislation will allow it. The infrastructure is expensive but it’s getting cheap but when you compare it against a battery, it’s a lot cheaper.”
Mark Borlace, Senior Manager at Royal Automotive Association South Australia
All that said, EVs can potentially support and strengthen the power grid, contrary to most beliefs that they can strain it. V2G technology enables EVs to serve as a decentralized battery system, enabling owners to store electricity for emergencies and high-demand periods.
