EVs are not so common these days, but if they make enough financial sense, we’ll see them flooding cities soon enough. As Denmark is currently the country which profits the most from wind power, Nuvve, the U.S.-based company that created the vehicle-to-grid (V2G) system, has announced that it will start using Denmark’s electric vehicles as buffers for stabilizing the grid frequency, Cleantechnica reports.
New York will also start at the end of this month a flywheel-based approach of grid regulation, but Nuvve has the advantage that their V2G technology doesn’t need huge investments, since the EV batteries are already paid for by the owners, and they’re only using them for short periods of time, while the cars rest unused. They’ll start testing on a sample of 30 electric cars, for the moment.
Sounds great so far, but here’s something even better: the EV users who will put their cars at the disposal of Nuvve will get paid for the electricity they upload a subsidized price, much higher than the normal cost of electricity. Because the EVs will stay parked for about 95% of the time, this will be easy money. The company estimated that a total of $10,000 will be paid to a single user throughout the car’s entire lifetime, which somehow reduces the actual cost of the car itself, eventually.
“For a long time, we’ve been talking about the EV as an integrated, stabilizing factor in the intelligent grid,” Clean Tech Investment Manager Anita Kji¸ller Nielsen from Invest in Denmark, Silicon Valley says. “But the partners that we introduced to Nuvve all but agreed they had not expected this technology to be ready for another 4-5 years. Nuvve launching in Denmark now not only creates jobs, it also helpsstrengthen Denmark’s green technology cluster and its position as one of the leading smart grid nations in the world.”
As I’ve said, there are numerous other ways in which electricity can be stored for use at peak demands, but this one seems the most flexible of all. Flywheels, batteries or even the now obsolete natural gas generators won’t be able to encourage the use of EVs more than V2G-like systems will be able to. Nuvve is already setting its offices in Denmark, not in the U.S., and this is certainly a huge leap forward for the Europeans.