V2G's Billion Dollar Future
Between 2015 and 2020, a ZigBee Alliance-funded study by Zpryme projects the global vehicle-to-grid automotive market will grow from $3.2 billion to $26.6 billion.
Now if that number doesn't get your attention, try these. V2G infrastructure will hit $6.7 billion by the end of this decade. The market value of vehicle-to-grid technology will exceed $10 billion, and total revenue for V2G services will reach nearly $3 billion.
Those are the projections of Zpryme Research and Consulting in Austin, Texas. However, there is this caveat: according to their 73-page report available at www.smartgridresearch.org, V2G automobiles will still only account for 1.2% of vehicles sold globally, or just 12 for every 1000 vehicles produced. The United States is expected to be the largest single market selling some 296,000 V2G automobiles in 2020, worth an estimated $8.1 billion. Following the USA are China (294,000) and Japan (188,000). The free Zpryme (pronounced Z-prime) report also includes projections for Germany, the United Kingdom, South Korea and Denmark.
In this EV World 'Future in Motion' podcast for 21 July 2010, we talk with the report's key author, Mark Ishac about his findings and what catalysts will motivate both automakers and utilities to modify their current stance towards vehicle-to-grid technology. At the moment, only one vehicle offers this capability: a Scion Xb conversion by San Dimas-based AC Propulsion. None of the present generation of grid-charged vehicles -- Nissan Leaf, Chevy Volt, Coda, Think, Tesla, Fisker -- offer the ability to share the electrical energy stored in their battery packs with the local grid via two way charging. At best, some OEMs are talking about eventually offering a V2H (vehicle-to-home) charging option, which would allow your electric car, plug-in hybrid, or full hybrid -- a 'la the Toyota Prius -- to share power with the house in the event of a power outage. But sharing power with the larger grid will require smarter charging systems, a smart grid, and fearless automotive manufacturers and battery suppliers, the last two, rare commodities.
You can listen to the complete 20-minute-plus interview using either of the two embedded MP3 players on this page, or by downloading the 5MB file to your computer for transfer to your favorite MP3 device. Other EV World 'Future in Motion' podcasts are available on the Apple iTunes store.