The untapped potential of EV batteries

Bloomberg’s analysis looks at the large untapped potential of electric vehicle batteries for the development of clean and sustainable energy. In fact, EV traction batteries can serve not only to power vehicles, but also as energy storage capacity for households and balancing the electricity grid. V2X technology allows batteries to be used to store or deliver energy to and from the grid, greatly simplifying the integration of solar and wind power into the electricity grid.

The article notes that EV batteries are already replacing gas as a flexible energy source during grid peaks in California. Yet the potential of EV batteries, which could be three times the capacity of large-scale battery storage, is not yet being tapped. This is due to regulatory hurdles, manufacturers’ concerns about battery degradation, and the complexity of predicting vehicle owners’ behaviour.

Another challenge is the willingness of individuals to provide their vehicle batteries for grid balancing purposes when their cars are parked. V2X technology could bring financial gain to car owners, but it would also increase the burden on batteries, which could affect service life and warranty conditions. Carmakers such as General Motors and Ford have already begun to implement the technology, although progress is slow and so far only partial.

If these challenges can be overcome, V2X technology has the potential to make a significant contribution to a cleaner energy sector and better use of existing resources. It is important that governments and industry find ways to tap into this untapped potential and encourage wider deployment of V2X technology.

For more information, read the full article on Bloomberg.

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