A world-class project in grid innovation is taking place underground, beneath the streets of Toronto. Launched in two underground garages, Peak Power’s demonstration of vehicle-to-grid (V2G) technology is just the kind of future-forward thinking that could revolutionize the green energy landscape.
Signature Electric’s Leaf plugged into Peak Power V2G charging system.
Recently, Signature Electric’s Mark Marmer joined Imran Noorani, the Chief Strategy Officer of Peak Power, to take a look at their innovative project and discuss the work they are doing in the fields of V2G, building optimization, and energy storage. Watch the video below.
What is vehicle-to-grid (V2G)?
Peak Power’s energy solutions transform buildings from static energy consumers into dynamic, revenue-generating assets for the smart cities of tomorrow and V2G technology is a crucial component. V2G works by connecting EVs to bi-directional chargers that allow them to communicate with both the building and the power grid to respond to peak power events by either returning electricity to the grid or by throttling their charging rate. EV’s energy storage capabilities allow them to store and discharge electricity generated from renewable energy sources such as solar and wind, with output that fluctuates depending on weather and time of day.
Peak Power is currently demonstrating V2G in real-world scenarios. Their current project features 20 electric vehicles and parking spots simultaneously connected with bi-directional chargers, feeding power back into the building during peak energy hours and events, such as during a summer heatwave.
EVs and the economic model
Vehicle-to-grid is a cutting-edge smart technology that provides economic benefits on many levels. Each EV can represent about $8,000 per year in electricity for a Class A building by capturing and storing energy during off-peak hours and saving on-peak demand fees. Plus there is the carbon offsets.
Specially equipped vehicle-to-grid parking spots are leased for about $500 per-month, an amazing deal that includes the car, the parking spot, free charging in the building, plus a home charger. Find more information and enroll at Peak Drive Energy. Also, as part of the Peak Power Drive program, some of these vehicles are available for rent via the Turo app for about $65 per-day.
The future is bi-directional
Signature Electric had the honour of plugging in our Nissan Leaf car for a few days as part of this amazing demonstration. Nissan’s electric vehicle technology is exceptional in that its cars allow for bi-directional energy flow. We can only imagine how many more EVs will be adopting this two-way technology in the future.
Grid innovation is key to a powerful future. With more and more peak energy events occurring every year, resiliency is needed. Peak Power is unlocking energy savings and decentralized distribution. The time is now to optimize buildings for the future.
For more news on EVs and sustainable energy initiatives for condos, keep following The Electric Blog!