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What is a virtual power plant?
A virtual power plant is a network of energy devices, like rooftop solar, batteries and EVs, that are pooled together to serve the grid. With participants approval the devices can be called on by system operators to share, reduce and store electricity. VPPs are capital and cost-efficient choice for utilities, creating new revenue streams that also benefit consumers, while reducing the overall cost of the electricity system.
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Bidirectional charging EV batteries could help EU save over $23 billion a year
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.