The Potential of Electric Vehicles to Reduce Household Bills

The government has recently allocated £4.8 million towards the development of Vehicle-to-Everything (V2X) technologies, which could potentially help electric vehicle (EV) owners save hundreds of pounds on their energy bills. This technology allows electricity stored in an EV’s battery to be used to power home appliances, resulting in significant cost savings.

Adam Hall, an EV expert at Drax Electric Vehicles, highlighted the potential benefits of this technology. With the predicted increase of electric vehicles on UK roads to as many as 37.4 million by 2050, there is a massive storage potential that could be utilized to balance the grid at crucial times. The V2G technology could effectively transform EVs into mobile power stations, offering benefits for households, businesses, and the grid, including substantial energy cost savings.

Furthermore, the recent government investment will see the trial of wireless V2X technology with a fleet of 20 delivery vehicles at Royal Mail, carried out by Electric Green Limited. This bidirectional technology would enable EVs to both draw power from the energy network and send power back when necessary, effectively using EVs as stationary batteries to store renewable power and send it back to the grid during peak demand periods.

In addition to the £4.8 million investment, the government had previously allocated £30 million into Vehicle-to-Grid (V2G) technology in 2018, funding 21 projects for research and development. Former Transport Minister Jesse Norman expressed optimism about the potential of electric vehicles to make a significant contribution to a smart grid, comparing the impact of the technology to the visionary designs of Brunel and Stephenson in transport.

Moreover, organizations are looking into expanding the electric transport network beyond vehicles. Midlands Connect has unveiled plans to install electric charging points along canals to support the “sustainable future” of narrowboats. While this is still considered a niche proposition with limited pilot trials, there is high optimism that it could be a viable solution.

Overall, the development of V2X technologies and the government’s investment in EV infrastructure hold great promise for reducing household energy bills and making a significant contribution to a smart grid. With the potential to revolutionize the ways in which electricity is stored and managed, the future of electric vehicles looks brighter than ever.