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Thursday, June 29, 2017

See How This Clean Tech Start Up Plans To Turn Electric Vehicles Into Virtual Power Plants

See How This Clean Tech Start Up Plans To Turn Electric Vehicles Into Virtual Power Plants

According to 2016 research from Bloomberg New Energy Finance, electric vehicle (EV) sales will be close to 41 million by 2040 globally. The research also estimates that the EV growth will means that a quarter of the cars on the road by 2040 will be EV and by that date, those cars are expected to use 2,700TWh of electricity displacing 13 million barrels crude oil per day. 


Nuvve, a clean tech start up in San Diego, has launched a pilot project with University of California San Diego (UC San Diego) to use idle electric vehicles as a collective energy storage reservoir. This will allow parked EV's to feed their energy back into the grid and be redeployed as needed by utility or grid companies. The total cost of the pilot is estimated at $7.9 million.


The company develops bi-directional electric vehicle charging technology which can draw electricity from electric vehicles plugged into charging stations and distribute that energy when needed. With the funding in place, the company says it will now install its vehicle-to-grid (V2G) charging system in 50 new electric vehicle chargers at UC San Diego which has its own micro-grid. The company recently won a $4.2 million grant from the California Energy Commission and says its partners, Nissan, Mitsubishi and Hitachi are funding the remaining and $3.5 million. San Diego Gas & Electric is providing the technical services and resources to implement the technology on the campus. 


"Bi-directional charging and discharging of over 1.5 million electric vehicles in California by 2020 has the potential to significantly balance in real time the grid’s supply-demand imbalance associated with variable renewable energy generation. Instead of paying Arizona to take California’s surplus renewable energy generation, we should have flexible charging for EV’s under an EV Happy Hour Tariff," said Byron Washom, UCSD Director of Strategic Energy Initiatives.


Full story at http://bit.ly/2tprmq3


Source: Forbes


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