Vehicle-to-grid (V2G) refers to the bidirectional flow of energy between an EV and the charging station. In addition to offering complete control over the charging process and load-balancing, V2G can also reduce the cost by transferring back the energy to the electric grid at peak times whilst charging during cheap periods. Corinex grid flexibility solution empowers V2G technology to optimizing the charging process and enabling vehicles to intelligently create, communicate, store, and predict energy and data at charging stations or for in-home applications.
Vehicle-to-Grid, or V2G for short, is a technology that allows energy to be pushed back to the power grid from the battery of an electric car. With electric vehicle-to-grid technology, the battery of an electric car can be charged and discharged based on different signals, such as energy production or consumption nearby. Compared with regular smart charging, also known as V1G charging, V2G goes one step further, it not only enables the charging of electric cars in a way that allows the charging power to be increased and decreased on demand; but also allows the charged power to be momentarily pushed back to the electric grid from car batteries to balance variations in energy production and consumption.
When it comes to energy production, decarbonization refers to the deployment of renewable energy sources, such as solar and wind power. As energy should be either used when it's produced or stored somewhere for later usage, the growth of renewables consequently causes our energy system to be more volatile, requiring new ways to balance and store energy to be used. Nowadays, the number of electric vehicles (EVs) is increasing steadily, and the batteries of EVs are by far the most cost-efficient form of energy storage as they do not require additional investment in hardware. Unlike unidirectional smart charging, V2G enables battery capacity to be utilized in more efficient ways, turning EV charging from an electrical demand response to a battery solution.
The global electric vehicle market share has experienced a tremendous leap forward in the past decade. EV facilities and utility companies that move quickly to incorporate EV technologies into their net-zero planning will be miles ahead of the competition and unlock potential financial benefits both now and in the future.
Reduce the cost of EV ownership by optimizing the price for buying or selling electricity
Enable high-speed communication to and from EV during charging periods. Manage charging sessions and update software and content in the vehicle
Reduce maintenance costs and increase vehicle reliability
Optimize the total cost of power through smart load and demand management
Increase charger availability through optimized load management and predictive maintenance
Offer value-added services enabled by high-speed communication
Improve prediction and management of loads on the grid; manage EVs as providers and consumers of power
Reduce maintenance costs by protecting utility equipment from EV energy surges
Comply with regulatory mandates to provide detailed real-time information to prosumers
By enabling EVs to store energy and feed it back to the grid when needed, V2G helps smooth out demand peaks, reducing the need for costly infrastructure upgrades. This technology not only enhances grid stability and reliability but also facilitates the integration of renewable energy sources by storing excess renewable power. It creates a symbiotic relationship where utilities, charging companies, and EV owners benefit financially, with EVs acting as mobile energy storage units that contribute to a more efficient and sustainable energy ecosystem.
Electric Grid
V2G technology enables expanded and bidirectional communication within the grid, allowing a more efficient model for power distribution. When "grid congestion" prevents electricity from reaching its destination or the grid is on the brink of overload during peak times, V2G offers the solution to intelligently distribute the power without the need for expensive grid infrastructure upgrades.
Renewable Energy Resources
Renewable energy resources such as wind and solar are intermittent and inconsistent. An efficient solution must make sure it is able to capture the energy when it's available and store it for distribution when it's needed. Expanded storage through intelligently connected EV batteries provides extra room to capture and store this valuable energy. V2G is the best answer for expanded battery storage.
Utilities and Customers
Most of the cost and price volatility for utilities and customers eventually comes down to simple supply and demand. The more strain there is on the system, the more it can drive up the prices and create volatility. Therefore, when the energy supply is better balanced, distributed, and able to meet demand, it creates price stability. V2G technology allows more stable and more efficient power distribution through optimized load management and predictive maintenance, enabling the reduction in costs and price volatility.
Corinex provides a field-proven, modular, and comprehensive solution that integrates an intelligent grid management software for energy distributors to visualize, monitor, track, and forecast load and generation resources within the V2G network.
The smarter way of managing V2G network
Corinex's grid management software, GridValue, provides nationwide provisioning and secure connectivity to millions of IoT devices, allowing near real-time visibility, data aggregation, and processing of energy network information. The modular architecture of this grid management software can be tailored to meet the deployment needs of each energy distributor, allowing a smooth migration path for future expansions.