This report examines both opportunities and barriers to domestic adoption of V2G technology, painting a generally positive perspective regarding limiting issues.
Report extract
This report provides a high-level snapshot of the current state of V2X technologies, and associated opportunities and challenges for the Australian market. It has a particular focus on residential and light commercial vehicle-to-grid (V2G) applications. Findings in the report are based on interviews with national and international supply chain stakeholders and cash flow modelling for 24 residential customers across the National Electricity Market (NEM).
While future consumer uptake of bidirectional charging is uncertain, it is clear that the scope of the economic opportunity for Australia is enormous.
Bidirectional EV charging represents one of the largest potential enablers of Australia’s energy transition. To put it in context, AEMO’s 2022 ISP reported that the NEM will require 640 GWh of all forms of storage by 2050. As shown in Figure 1, the usable storage in Australia’s EV fleet at that time will be nearly four times total NEM storage requirements. Flexible bidirectional charging from only 10% of this capacity could provide 37% of total NEM storage needs, offsetting around $94 billion of large-scale battery storage investment (at current prices)2. By the early 2030’s, EV fleet battery capacity is likely to surpass all other forms of storage in the NEM, including Snowy 2.0.