Bidirectional charging EV batteries could help EU save over $23 billion a year
THIS REPORT WAS ORIGINALLY PUBLISHED ON interestingengineering.com ON 4TH November 2024.Bidirectional chargers cost only 100 euros more than a conventional EV charger and pays for itself in a few months.
Storing renewable energy in electric vehicle batteries (EVs) instead of stationary energy storage facilities could help the European Union save over 106.5 billion dollars (100 billion euros) over ten years, according to a European Federation for Transport and Environment (T&E) study. If the intricacies are worked out, EVs could become the fourth-largest electricity supplier in the EU by 2040.
To meet their net-zero goals, countries in the EU are busy scaling up renewable energy infrastructure using solar panels and wind energy systems. However, the intermittent nature of these power sources necessitates using energy storage solutions that are expensive to build and maintain.
EVs, a critical component of the clean energy transition, can serve as a decentralized energy storage system by storing excess energy in their batteries and feeding it back to the grid when demand is high.
