Transactive Energy* and Your EV
Electronic Vehicles (EVs) have been described as “batteries on wheels” - true but not usually the way we think of them. The New Hampshire Electric Coop (NHEC), however, is prepared to use these readily available batteries in very imaginative ways to add alternative energy to the grid. It says, “This will help reduce peak grid load, improve grid operations and minimize the need for more poles and wires.”
Some current and eventually all EVs will have the capability of bi-directional charging, also known as vehicle to grid (V2G) or vehicle to home (V2H), which enables the EV to be charged and be capable of discharging surplus electricity. A fully charged EV with a 70 kWh battery, for example, could serve to provide two days of home electrical use if needed.
It could also provide power to the grid during down time when the EV is fully charged and not being driven.
Electric rates vary during the day ranging from relatively inexpensive during low use periods to much more expensive during high demand. NHEC, partnering with Plymouth State University and Fermata Energy, has developed a process using a meter to measure the Transactive Energy Rate (TER) while connected to a bi-directional charging unit.
During the first quarter of 2023, a 500 member pilot project using this technology will begin. Once a device is registered, members or participating aggregators will receive the hourly price a day in advance. The devices will then respond to a set of preferences and send usage information to the utility. Monthly bills reflecting cost or credits will be sent to the participants. Over the course of the project, General Motors is expected to engage owners of the Chevy Bolt and Volt. Later involvement could possibly include the Chevy Silverado.
Savings for members could be significant. Given current electric rates, an EV traveling 13,500 mile/year could save $350-500 per year in electricity cost. Added to the savings by not having an internal combustion engine getting 25mph for the same milage driven, is a savings of over $3K per year, thus an added incentive to switch to EVs.
Bi-directional chargers are now available on EVs manufactured by GM, Nissan, Volkswagen and Ford with others to follow. If successful, NHEC’s project could make a major contribution to adding renewable energy to the grid.
*Transactive energy (TE) can be defined as “a system of economic and control mechanisms that allows the dynamic balance of supply and demand across the entire electrical infrastructure using value as a key operational parameter.