V2G technology transforms EVs from just transport vehicles into mobile energy-storage units. When an EV is fully charged, its battery often has more power than it needs for regular driving. This extra energy can help to keep the power system stable especially when the demand for electricity is high. With the right charging systems in place, EVs can both take in power to charge themselves and give back excess power to the electricity grid when needed.
When the V2G technology is commercialised, EV users who participate in V2G programmes might also have the chance to earn rewards by selling the extra energy stored in their car's battery to the grid. These rewards may come in the form of payments, credits on energy bills, or reduced EV charging costs.
V2G technology enable EVs to share their unused battery capacity with the grid, helping fill gaps in renewable energy generation that can be unpredictable. This enhances our power grid reliability and will go a long way to support Singapore’s aim of achieving net-zero emissions by 2050.
Find out more about the announcements made at SIEW 2023 here.