Cars become virtual power 16-02-2023

Cars become virtual power

-Cars become virtual power plants (and make money)

By storing energy at off-peak hours and selling it at peak times, battery-powered cars create the grid of the future Cars become virtual power
Does charging an electric car cost a lot? Perhaps. It depends on many factors. But what if we told you that instead of spending money when you leave your car plugged in, is there a way to make money? Just keep in mind a few words: virtual powerhouses.
Unlike physical ones, which immediately catch the eye for reinforced concrete buildings, chimneys and transmission lines, virtual power plants can be defined as a series of points where distant but connected energy sources are located. And among these there are also electric vehicles.  Cars become virtual power
How do they work
The idea behind it is that cars recharge their batteries during off-peak hours, when electricity costs are lowest, and store energy to be fed back into the grid during peak demand, selling it at higher prices than those of ‘purchase.
In this way, “they can act as a large-scale power plant and provide the same services known so far,” explains Mark Dyson, managing director of a zero-emissions energy program launched by RMI, a non-profit organization committed to the ecological transition ( source: Automotive News). Cars become virtual power
Projects and prospects
The association just announced a virtual power plant program called the “Virtual Power Plant Partnership,” in which Ford and General Motors are also participating. The goal is to educate motorists, politicians and companies on the benefits of this technological possibility.
“Raising awareness is of paramount importance,” says Rob Threlkeld, director of global energy strategy at GM. The coalition will then share knowledge and best practices to build a more resilient network. However, beyond the good intentions, something else will also be needed to make everything mature:  Cars become virtual power
“As soon as we have intelligent charging infrastructures that allow us to better manage energy supplies, then we will benefit from virtual power plants, because they reinforce the promise of electric vehicles,” concludes by Nathan Niese, global head of EV at Boston Consulting Group  Cars become virtual power

Cars become virtual power

Unlocking the true value of the EV battery through price

Unlocking the true value of the EV battery through price

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