The why? and the how?
Vehicle to Grid (V2G), in its simplest terms, is using the battery to power something else, in this case, the grid.
When we talk about the grid, we mean the electricity network that is all around us. The physical cables that connect energy suppliers (generators) to consumers. As an EV owner doing V2G you have the ability to be both the supplier and the consumer. All thanks to the battery because as an energy asset, it can both charge (consume) and discharge (supply).
Why would you want to do V2G and be the supplier and the consumer?
As an energy asset, your EV battery is extremely valuable. It is super fast, can be controlled remotely, it is durable, and as explained above, it can both charge and discharge.
In comparison, most other energy devices (think about your kettle, oven, or shaver) only consume – they can never supply energy because they can’t store it and also because their connection is unidirectional – in other words, it goes one way, from the grid to the device, never back.
As we move to an increasingly green energy system - powered by renewable energy - the times we generate electricity might not always match when we want to consume that energy. For example, it can often be windy in the middle of the night, and our wind turbines generate electricity when we are sleeping and have no immediate use for it. In fact, occasionally we pay wind turbines to stop generating, because we don’t have need for the extra electricity.
In addition, as we see an increase in electric vehicles on our roads, the local grid could become congested and may require additional spend to upgrade it if we want to use it all at the same time. With clever tech, we are starting to see dynamic energy tariffs that reflect the costs of this intermittent energy generation and encouraging the use of the grid at off-peak times - typically with low prices overnight, and higher during peak hours of 4-7pm.
And with V2G, it goes a step further - we start to have the ability to store the inexpensive green energy - charging up when demand is low (for example, when we sleep). And then it can be shared back to the energy system, supplying your home and your neighbours, during expensive peak hours - discharging when demand is high.
This creates a smart energy system. And in fact, industry experts have estimated that a smart energy system can save the UK up to £40bn by 2050.
All of this is wrapped in two letters and a number – V2G.
At Octopus Electric Vehicles - in partnership with 6 other partners including the Energy Saving Trust, UK Power Networks, ChargePoint Services, OpenEnergi, Guidehouse and our sister company Octopus Energy, we are creating our own version.
In Powerloop, we are installing the lightest, smallest V2G chargers for homes in the world. We have the first ones off the production line from the ex-Tesla team at Wallbox. Alongside this, we are creating the algorithms and tech to help take this to become a scalable proposition that can help many energy systems run smoothly on renewable energy, fuelling many electric vehicles in the smartest ways.
We are currently offering the first 135 customers the opportunity to join us on our Powerloop journey as we start to demonstrate this technology in action.
We provide you everything you need as part of your bundle - including a Nissan LEAF and a Wallbox V2G charger.
We recognise that making your EV battery an active energy asset in the grid is extremely valuable. So we will not only give you the tools to do it, explain all the acronyms along the way and help you get everything set up – we will also pay you up to £30/month for making your car battery available at the times the energy system needs it most! This is V2G in action, this is Powerloop.
What is the Powerloop bundle?
Brand new 40kWh Nissan LEAF
Wallbox Quasar bi-directional charger
SMETS2 smart meter
100% renewable energy from Octopus Energy
£30/month cashback into your Octopus Energy account for 12 complete cycles each month*
Eligibility Available for customers that live in the UKPN area, own their home with off-street parking and receive UKPN approval (we'll apply for this on your behalf). Check if your postcode qualifies here. Our Powerloop bundle is only available to the first 135 customers.
Want to learn more? We would love to invite you to join our free workshops with our EV Experts to help you understand more about the future of energy and how Powerloop fits into this!
*£30 cashback is credited in the form of Octopus Energy credit onto your account if 12 full cycles are completed in a month (plug in before 6pm, and stay plugged in until at least 5am the next day to complete one cycle)