Government rebates that boost the number of EVs feeding energy back into the grid would lower energy bills for all Australians, according to new modelling by the Electric Vehicle Council.
Vehicle-to-grid (V2G) technology, known as bidirectional EV charging, allows energy stored in EVs, which are ‘giant batteries on wheels’, to be sent to the energy grid.
The modelling shows that over five years, a $3,000 government rebate towards a V2G charger would create more than $4,500 in downward pressure on electricity bills across Australia.
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That means for every dollar spent supporting V2G, $1.50 comes back through lower wholesale prices and a reduced need for additional capital expenditure on power infrastructure.
Additionally, an EV owner who participates in V2G could earn around $1,000 per year for exporting power from their car to the grid when demand is high.
The EVC proposes the federal government include V2G chargers in its $2.3 billion home battery program to provide more value for money to the taxpayer.
The EVC estimates that 600,000 EVs doing V2G could match the output of NSW’s Eraring Power Station operating at full capacity.
Electric Vehicle Council CEO Julie Delvecchio said V2G has huge potential to make electricity cheaper for everyone and help stabilise the energy grid.
“Just as Australia became a rapid global leader in rooftop solar, we have the opportunity now to lead the charge in vehicle-to-grid uptake,” she said.
“EVs can store up to five times more energy than a typical home battery. That’s a huge untapped resource sitting in driveways and with the right technology, we can use it to save money and support the grid, and make the whole system more reliable for everyone. V2G enables EV owners to feed stored power back into the grid during periods of high demand, when electricity is most expensive and vulnerable to disruptions like blackouts.
“V2G allows EV owners to drive down power bills not just for themselves but for all Australians.
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EV owners could earn $1,000 annually by sending energy from their electric vehicle to the grid. Over five years, they can contribute more than $4,500 in broader community benefits that help reduce energy bills for everyone.
“Unlocking this energy from EVs brings huge financial benefits that are in the national interest. We need to encourage more people to use V2G chargers, which cost about the same as the average home battery at around $10,000.
“We’d like to see the Federal Government roll out a $3,000 rebate for V2G chargers so that more Australians can use this technology to generate lower power prices for themselves and others.”
