UK looking to give carmakers incentives to turn EVs into ‘power plants on wheels’
Source: The Guardian ·
V2G tech enables drivers to charge automatically when electricity is cheaper and then sell some back to the grid at times of high demandBusiness live – latest updatesElectric cars that can be used as “power plants on wheels” could be given government backing as part of plans under consideration to help UK manufacturers.Ministers are considering giving manufacturers incentives to add “vehicle to…
From the source
Electric cars that can be used as “power plants on wheels” could be given government backing as part of plans under consideration to help UK manufacturers. Ministers are considering giving manufacturers incentives to add “vehicle to grid” (V2G) technology to cars as part of its review of the zero-emission vehicle (ZEV) mandate. The technology allows drivers to charge automatically when electricity is cheap overnight, and then sell some of it back to the grid at times of high demand. If millions of cars have the ability to send power back – or power the driver’s home (V2H) – it could help to solve one of the big problems of the transition away from fossil fuels to renewables: how to balance the grid during still, cloudy or dark periods when wind and solar generation is lower than electricity demand. The move could give incentives to help to spread a technology that is not yet widely used, but which could lessen the load on the grid and the need to fire up expensive gas power plants to…
BestAIBroker analysis
- Finance-aware sentiment: slightly positive (+0.20 on a -1 to +1 scale).
- Event classification: OTHER.
- Market importance score: 33/100, weighting entity relevance, source credibility, multi-outlet coverage and recency.
- Symbols referenced: UK.