Is the suggestion of turning privately-owned EVs into public electric grid storage a pipe dream?
With massive electrification goals, states are going to require a lot of electricity. While solar, water, and wind-generated power are great options that fall within green energy initiatives, these resources are not always readily available. Some environmentalist groups are suggesting that users of electric vehicles can help by supplying electricity to the grid when vehicles are idle - a method called “vehicle-to-grid” technology (V2G).
V2G technology does allow for EVs to support the electrical grid by injecting energy back into it when demand is high, helping to balance the grid and prevent blackouts. By allowing EVs to act as mobile energy storage units, V2G technology can increase the efficiency of the electrical grid and reduce the need for large, centralized power plants. It also provides EV owners with the opportunity to earn revenue by selling unused energy stored in their vehicle's battery back to the grid. By reducing the need for large, centralized power plants and allowing for more efficient use of energy, V2G technology can help reduce greenhouse gas emissions and support a cleaner energy future.
However, there are several technical challenges. Implementing V2G technology requires significant investments in technology and infrastructure, and it can be challenging to integrate it into existing electrical grid systems. Repeatedly charging and discharging an EV battery as part of V2G operations can lead to the degradation of the battery over time, reducing the overall lifespan of the vehicle. V2G technology is still in the early stages of development, and the cost of implementing it can be high. Additionally, the regulatory environment for V2G technology is still evolving, and there may be legal and regulatory barriers to widespread adoption.
South Korea has welcomed the U.S. decision to extend electric vehicle tax credits for cars containing Chinese graphite until 2026.