The Key to Resolving the Electricity Crisis
Mark Marmer, Founder of Signature Electric
Founded in 1985, Signature Electric supports forward-thinking clients to achieve their goals in energy conservation, environmental responsibility, sustainability, scalability, and future-readiness.
It was a short time ago that electric vehicles were ideas of science fiction. Today, they are our reality and a vital part of our future.
With massive efforts to bring electricity to underdeveloped populations, the amount of humans with access to electricity are expected to increase exponentially around the globe. Pair that with the prediction that EVs will account for half of all vehicle sales by 2040, and we have an interesting question to answer: How will our standard power grid system handle the incoming load?
Enter: The smart grid
Dubbed ‘electricity with a brain’, the smart grid is a network enabling a two-way flow of information between consumers and utility agencies. Consumers see real-time information on their energy consumption, utility companies have more tools at hand to prevent things like outages and smart grids even integrate renewable energy sources like solar, wind, and hydro into the network.
For consumers like us, this means gaining a deeper understanding of how their lifestyle affects energy consumption, and how they can maximize efficiency where it counts. With this type of information and control, consumption levels are estimated to reduce between 5-10%, a reduction that translates into hundreds of dollars saved annually.
Smart grid distributed energy illustration. Image courtesy of IEEE.
A new smart grid solution: EV edition
With electric vehicles making major strides forward, the smart grid service transforms into Vehicle to Grid technology (V2G).
V2G returns energy back to the power grid from the battery of the electric car, changing the landscape of grid management. Imagine the possibility of multi-residential buildings decreasing overall energy consumption and increasing energy management with a connected EV with energy to spare.
“[…] Anticipated EV growth offers great potential for V2G to play a significant role as a grid service. When coupled with jurisdictions that have committed to renewable energy, V2G can be an enabler for carbon reduction.”
Kotub Uddina, Matthieu Dubarry, Mark B.Glick
V2G vehicle-to-grid illustration. Image courtesy of Signature Electric.
Transforming the status-quo
Major car manufacturers are responding to V2G technology by moving beyond the standard one-way charge sent to a vehicle’s battery. Ford, Kia, and Porsche are a few examples of brands readily making V2G-capable EVs available to customers.
The ability to offload energy back into the grid puts the balance of energy production and consumption right in the hands of consumers – unprecedented power that saves money along the way.
V2G technology exemplifies the innovations available to improve our electrical, literal, and landscape for a healthier world. Whether you’re a homeowner, property manager, or car manufacturer, there’s a place in this journey for everyone and every choice is our opportunity to leap closer to a bright future.
Interested to see how V2G can make a difference in your life? Call the Signature Electric team to explore the ways this technology can improve your home, condo, or building, and life.