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Ovo Energy and Cenex have wrapped up a three-year trial of vehicle-to-grid (V2G) chargers at UK homes and revealed that the technology could help motorists reduce electricity bills by up to £725 per month.
Vehicle-to-Grid rollout could deliver £880m in annual savings
Innovative Vehicle-to-Grid (V2G) projects, whereby electric vehicles (EVs) act as a form of distributed energy storage, could deliver cost savings of up to £880m annually while reducing emissions from power networks, according to new research.
Research found that up to £1,250 in business benefits could be gained per vehicle. Image: E.ON
Research published through a collaboration involving carmaker Nissan, energy giant E.ON and Imperial College London has outlined the economic and environmental benefits that can be delivered by a rollout of V2G technology.
V2G is a concept that enables plug-in vehicles to act as a form of distributed energy storage by providing demand-response services to the power grid. The batteries in parked vehicles can be used to let electricity flow from the car to the distribution network and back based on demand needs.