This charging technology would revolutionize the electricity market – Could meet a large part of the EU’s electricity needs

The German applied technology research community Fraunhofer Institut has studied the possibility of using electric vehicles as home storage batteries. European countries such as Germany and France could benefit significantly if two-way charging technology were widely used, says Interesting Engineering.

If two-way charging technology is combined with micro-production of electricity such as solar panels, the combination could save households a lot of money. In addition, it would reduce dependence on traditional electricity production, especially on polluting fossil fuels.

The survey showed that in Germany, most electric vehicles are only used for about an hour a day. They stand for the remaining 23 hours of the day.

If the vehicles could be put to work for electricity production during downtime, the electricity network companies could borrow them as temporary storage batteries. This would help balance the grid’s electricity supply during strong demand spikes.

Balance in the electricity market

According to a report by the Fraunhofer Institute, the practice would increase the attractiveness of solar and wind power. A large part of renewable energy is produced during the daylight hours, when household energy demand is lower than at night. Storage batteries would help them to use renewable energy to their advantage.

When stationary, Electric Vehicles could feed electricity into the grid when demand rises. The potential would be enormous: a recent study by the European environmental organization Transport & Environment estimates that 22 billion euros would be saved per year.

The same study claims that Electric Vehicles could, at least in theory, meet nine percent of the European Union’s electricity needs. Under suitable conditions, the number could rise to 20 percent.

In this way, two-way charging could become a significant factor in the electricity market of the European Union. According to Transport & Environment, in 2050 there may be as many as 1.5 billion electric vehicles in use worldwide.

Savings of up to hundreds of euros per year

If the battery capacity of an electric vehicle is on average 60 kWh, their two-way charging could globally produce up to 90 billion kWh of electricity. According to Fraunhofer, the average consumer could save between 31 and 780 euros per year by sharing their vehicle’s battery capacity with their own home or electricity grid.

Some countries, such as France, already offer incentives for households to use two-way charging. For example, Renault R5 owners can drive 10,000 kilometers with free electricity if the car can be used as a temporary electricity storage for at least 15 hours a day.

In a survey by the energy giant Eon, 77 percent of the respondents would use two-way charging technology in their buildings, and 65 percent would use it in the electricity grid. Used as a source by Interesting Engineering DW:n experts recommend that both private and public charging stations offer two-way charging whenever possible.

Probably the cost of setting up the charging stations would increase, but they would pay for themselves in a few months.