Hyundai Motor Group said on the 22nd that it is conducting a pilot service to build a "V2G (Vehicle to Grid)" ecosystem and verify the technology. V2G refers to a technology that connects electric vehicles to the power grid to supply or sell the battery's electricity to buildings and other facilities. As electric vehicles emerge as a means to stabilize power grids in regions where renewable energy such as solar power accounts for a large share, commercialization of V2G technology is drawing attention.
Hyundai Motor Group has been verifying charging infrastructure linkage stability and more on Jeju Island since December last year by using a total of 55 electric vehicles, including the Ioniq 9 and EV9. It is testing the application of V2G technology, such as storing and supplying surplus power using electric-vehicle batteries. Jeju Island is a region in Korea with a high share of renewable energy, including solar and wind power.
The core of V2G technology is efficient use of electric-vehicle power. The key is to charge vehicles during late-night hours when power demand is low and supply battery power to the grid during daytime hours when demand concentrates, thereby improving energy efficiency. It means using electric vehicles as part of the domestic energy infrastructure. Benefits such as charging-fee reductions and revenue generation are provided to vehicle owners.
Attempts to use electric vehicles as power assets are continuing around the world. Britain is regarded as being at the forefront of commercializing V2G technology. Energy company Octopus Energy in Britain released a V2G package last year. It bundled electric-vehicle leasing, V2G charger installation, and a rate plan. Vehicle owners can participate in V2G simply by plugging in the charger, without complicated steps such as separate power sales. It also offered an incentive that fully waives vehicle charging fees if connected for a certain period of time.
The Netherlands is the same. In this country, V2G demonstration work at a large, citywide scale is underway. Surplus power produced by solar panels installed on buildings in Utrecht is stored in electric-vehicle batteries and then supplied back to the grid when needed. The V2G system assesses power supply and demand and automatically decides and manages EV charging and energy resupply.
The United States and Japan are the same. The United States is verifying an approach of restoring power by linking electric vehicles to local power grids. Japan used V2G technology last 2024 to supply emergency power to ordinary households and other facilities. It is also said that whether disaster-cooperation agreements are concluded to utilize electric vehicles is included in the government's purchase subsidy evaluation criteria.
Hyundai Motor Group also plans to speed up commercialization of V2G technology. In a public-private council for V2G launched under the leadership of the Ministry of Climate, Energy and Environment, it is discussing a roadmap that includes rate plans, settlement and compensation methods, and technical standards. However, electric vehicles are not defined as distributed energy resources, and even if EV power is supplied, there is no legal basis for recognizing it. Participation criteria and compensation have not been set.