EVs could earn the grid thousands through vehicle-to-grid, study finds

Electric cars and trucks could generate new revenue by sending power back from their batteries during peak demand, a new study says — with an estimated value to the New Zealand electricity system of $2,000 per car per year when households export during cold winter evenings.

The value to the electricity system from ‘vehicle-to-grid’ (V2G) from electric trucks could be even higher at $10,000 per truck per year for trucks returning to a depot in the early evening.

The findings, which come from a multi-client study by Concept Consulting and Retyna, show the benefits are greatest when stored energy supports winter peaks and vehicles recharge overnight at lower cost. It notes some duty cycles — such as milk collection trucks that are off the road during mid-winter when production is low — could deliver higher value per vehicle.

To share those gains with motorists and fleets, the report recommends a new ‘type of use’ discounted pricing for EV charging paired with remote charging management. It also urges electricity retailers to partner with EV importers on bundled offers that combine the vehicle, a charger and a compatible power plan to make V2G simple for consumers.

“V2G is only possible with the right EV and the right charger,” Retyna managing director Liz Yeaman says.

The report says V2G-capable cars, trucks and buses are now emerging, and advises buyers to ask dealers whether an EV supports V2G, whether the battery warranty covers it, and which V2G-capable chargers are suitable for homes or depots.

The authors call for consistent national arrangements to enable V2G across local networks. They warn that an uneven approach by lines companies could significantly reduce the potential benefits.

The study included funding from the AA Research Foundation, Aurora Energy, Ecotricity, EECA, Fonterra, Horizon Networks, Meridian Energy, MinterEllisonRuddWatts, Orion, Powerco, StarCharge, Transpower, Unison Networks and WEL Networks, and released today on Concept Consulting’s website.

*Click here to view the full study.