Utility Dive•about 2 months ago
America’s EVs are a $30B grid asset. Let’s not lock it away.
Key Takeaway
The rapidly growing EV fleet represents a substantial, largely untapped grid asset that, with appropriate policy and technological integration, can provide significant flexible capacity and demand response to the power system.
AI Summary
- •A current fleet of 7 million electric vehicles (EVs) in the U.S. represents a potential $30 billion virtual power plant (VPP) asset, projected to grow to 78.5 million by 2035.
- •This massive, flexible EV load and potential storage capacity offers significant untapped value for grid services, demand response, and capacity markets.
- •Unlocking the full potential of EVs as a grid asset requires proactive policy and regulatory frameworks to enable their integration and compensation for grid contributions, creating new market opportunities for developers and large load aggregators.
Topics
capacity-marketoempolicystorage