Charging your EV may make you money?

Yes it’s true. It’s early days, but it’s possible for EV (make and model dependent) to make you $$. There are loads of ways to make money out of any EV with a wide range of Apps available such as Uber and Facebook. However what if your EV could make money standing still? That’s the case with Vehicle to Grid Charging. Vehicle-to-grid (V2G), also known as Vehicle-to-home (V2H), describes a system in which plug-in electric vehicles (PEV) sell demand response services to the grid. Demand services are either delivering electricity or reducing their charging rate. Demand services reduce pressure on the grid, which might otherwise experience disruption from load variations.

Vehicle-to-grid (V2G)

V2G technology enables electricity to be exported from the battery to the electricity network using a bidirectional charger. The electricity your vehicle may be storing maybe more valuable that you realise, especially if it’s charged off your solar. V2G-capable electric vehicles can use their car battery to capture excess solar PV generation, then use the battery to run the house and even export excess electricity to the grid….. Obviously you’d be paid base wholesale rates depending on your power provider. However there have been some fluke situations where individuals have made $100s of dollars in a short period of time.

Reported by the Australian Financial review: “One Friday in August, when the high-voltage interconnector between South Australia and Victoria was down and prices spiked, Adelaide man Jai Nankivell earned $177 in six hours selling energy from the battery of his Nissan Leaf back to the grid”.

In this case V2G helped top up South Australia’s vulnerable power grid at a time when wholesale prices had jumped to $10 per kilowatt-hour.

There’s enormous potential for V2G because electric vehicles typically have much larger batteries than homes… A Tesla Model 3 has a 50 kWh battery vs an average home battery of 10-13 kWh. I’m optimistic EV sales cannot just be a clean and recyclable solution to ICE vehicles but be our solution to taking the grid to renewable FASTER.

It’s no secret renewable power is cheap. Everywhere across Sydney I see solar panels covering almost every roof top in some neighborhoods. But the question is, who do we store it? Home batteries are expensive, a decent home battery is $10K at the very least. However if your EV can fulfill that need and more, perhaps for your neighbor and neighbor’s neighbor? V2G is just one a many reasons EVs make sooooo much sense…

Here’s some key terms explained.

Vehicle-to-home (V2H)

V2H is similar to V2G except that the power from the EV goes directly to home instead of through the grid. That means it acts more like a solar battery, and in some cases, can run your home during a power outage.

Vehicle-to-load (V2L)

V2L works as it sounds. By using an adaptor, you can plug appliances directly into your EV battery. It works like a camp battery, allowing you to run a fridge or charge your laptop from your car.

Vehicle-to-everything (V2X)

V2X is an umbrella term for the communication between a vehicle and any entity that may affect, or be affected by, the vehicle.

Are you thinking about buying your first EV? Here are some helpful EV buying guides by JUCER.

Thinking of buying an EV? EV Charging basics Speed + Range. – JUCER

EV Chargers, what exactly is a Type 2 Portable Charger and how do I us – JUCER

EV Charging. Just got a KIA Niro? What you need to know. – JUCER

How Owning An EV In Australia Is More Affordable Than Ever! – JUCER

Polestar smashes global sales for 2021, here’s why. – JUCER

Disclaimer: JUCER does not guarantee the accuracy or completeness of the data and accepts no liability whatsoever arising from or connected in any way to the use or reliance upon this data.