This white paper from Power Circle was created in January 2024 and translated into English in March 2024. It highlights the potential and challenges of Vehicle to Grid (V2G) technology and provides insights into how the technology can contribute to the development of future sustainable energy systems.
Vehicle to Grid is a technology that offers a revolutionary connection between the transport and energy sectors. As the electrification of vehicles, industry, and society increases globally, so does the need to manage the effects of this significant change in our electricity grids. V2G technology enables two-way communication and energy transfer between electric vehicles and the electricity grid. This means that vehicles can not only draw energy from the grid to charge their batteries but can also return energy to the grid when needed. This creates new opportunities for energy storage, robustness, and improved efficiency in the electricity grid.
David Mowitz, E-mobility expert at Power Circle, comments: ”The rapid development within e-mobility poses new demands but also creates new opportunities for our electricity system. By using electric vehicle batteries in a more dynamic way, we can not only reduce the load on the grid but also actively contribute to the energy supply during periods of high demand and help to stabilize the grid.”
The updated white paper reviews the technical, legal, and commercial status of V2G, and summarizes ongoing projects and initiatives in the field. It also identifies areas of development where efforts are needed for V2G to be commercialized on a larger scale. The need for updates to regulations, standards, and industry practices, as well as the need for digitalization of the electricity grid and better conditions for flexibility and storage in general, are also highlighted.
”The development of technology, standards, and business models is moving at a rapid pace within V2G,” says Anna Wolf, expert in electricity systems and Deputy CEO at Power Circle. ”When we conducted our research synthesis on V2X last year, we realized that the white paper also needed a significant update, as there is a large need for knowledge dissemination in the field.”
The number of research and innovation projects within V2G is growing rapidly, and Sweden has seen a significant increase in pilot projects in the area, reflecting the growing interest and need for the technology. The projects, run by a variety of organizations and companies, aim to test and improve V2G solutions in real-world scenarios, develop sustainable business models, and promote collaboration between different technology providers, energy companies, and consumers. The white paper presents a selection of these projects to provide a broader picture of the ongoing efforts within the V2G area in a Swedish context.
Power Circle’s goal is for stakeholders from different sectors to be able to read this fact sheet to understand the new and numerous opportunities that V2G technology offers. The material aims to be a knowledge resource for everyone interested in future sustainable energy systems and the roles that electric vehicles can play in the electricity system moving forward.
Johanna Lakso, CEO of Power Circle, adds: ”Vehicle to Grid is an important technology that will play a central role in the future electricity system. It is therefore very exciting to see all the ongoing projects and how the development continually progresses. This white paper provides a good current overview for both the industry and decision-makers. The next step is to review and adapt the regulations.”
