Electric Cars have the potential to reduce energy bills
A study by the University of Salford has revealed that by plugging an electric vehicle (EV) into an integrated energy network could save homeowners up to £300 a year.
With the popularity of EV’s growing in the UK, there is a significant impact on the electricity sector and exploring the potential opportunities is the focus of a recent piece of work. The Home as a Virtual Energy Network (HAVEN) is a project that brings together the University of Salford, Honda Motor Europe and energy firms Good Energy and Upside Energy. A key element of the study is to identify the benefits of plugging in an EV has for both the consumer and energy suppliers.
HAVEN examined the value of vehicle-to-grid (V2G) and vehicle-to-home (V2H) enabled electric vehicles can add to the domestic energy networks. It was found that energy suppliers have the potential to increase revenue whilst consumers can make a saving of £300 a year by being more efficient with their energy consumption.
Professor Will Swan, Head of Research at The University of Salford’s Energy House said: “We are at the early stages of development of integrating EV’s into the home energy network. The study does demonstrate energy efficiency can be achieved as well as a cost saving for consumers. By adopting this type of system, it means you are no longer a passive consumer, you are part of the energy system.”
The study also highlights that we have way to go before this integrated system becomes a reality with Professor Swan saying that, “I think it will come quicker than many people might think.’” Challenges remain with the hardware costs that allow the electric cars to integrate with all-electric home and these need to fall to entice consumers to invest in this type of solution.
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