Monday, July 15, 2024
NewsVolvo Initiates New Energy Solutions Division for V2G Integration

Volvo Initiates New Energy Solutions Division for V2G Integration

Volvo announces the establishment of Volvo Cars Energy Solutions, a new division dedicated to advancing energy storage, charging services, and grid interaction capabilities of electric vehicles.

 

  • Volvo Cars Energy Solutions aims to leverage electric vehicle batteries beyond driving, including powering homes and contributing back to the grid.

  • The initiative includes a vehicle-to-grid (V2G) pilot program in Gothenburg, Sweden, to integrate electric vehicles with local energy systems.

  • By 2030, the projected 50 GWh battery capacity of Volvo’s electric fleet could offer significant energy flexibility and grid support, with potential financial and environmental benefits.


 

In a recent development, Volvo has introduced Volvo Cars Energy Solutions, a freshly conceived branch focused on enhancing the role of electric vehicles (EVs) within the broader scope of energy management and climate impact mitigation.

Volvo EX90 V2G | Photo : Volvo

The core idea behind Volvo Cars Energy Solutions is to expand the utility of EVs beyond transportation. The batteries in these vehicles are recognized not only for their primary purpose of powering the vehicle but also for their capacity to store energy and serve secondary functions. These could range from supplying electricity to households to providing energy back to the local power grid, especially during peak demand times. Volvo is keen on integrating EVs into a more intelligent and resource-efficient energy infrastructure.

Volvo EX90 V2G | Photo : Volvo

A practical example of this innovative approach is the bi-directional charging technology. This allows an EV, such as the upcoming fully electric EX90 SUV, to return excess power to the grid. It is a step that not only promotes better energy distribution but also reduces reliance on non-renewable electricity during high-demand periods. Additionally, Volvo anticipates that the widespread implementation of such technology will be facilitated through initiatives like their V2G pilot program in Gothenburg, which utilizes cost-effective charging solutions to encourage broader adoption.

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With an ambition to transition entirely to electric vehicles by 2030, Volvo foresees a significant fleet of EVs on the road. Given the average usage patterns, a substantial amount of battery capacity will remain underutilized daily, presenting an opportunity for other uses. This surplus energy could potentially offer economic incentives to car owners and contribute to reducing carbon emissions.

2024 Volvo EX90 | Photo: Volvo Cars

Alexander Petrofski, head of the new division, highlights the vision of an energy ecosystem where the stored power in EV batteries can be strategically repurposed. This ecosystem could include V2G, vehicle-to-home (V2H), and vehicle-to-load (V2L) functionalities, thus allowing for a versatile and financially advantageous energy model for customers and energy firms alike.

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