BRUSSELS, March 5, 2025 /PRNewswire/ -- An electric vehicle (EV) owner in Europe could save €450-€2,900 every year by utilising both smart & bidirectional charging – shows Eurelectric-EY's new study. Through smart charging, EV batteries can store excess electricity and with vehicle-to-grid (V2G) technologies, they can sell it back to the grid during peak demand, helping balance the grid, reduce congestion and integrate variable renewables. Yet, consumers lack clear economic incentives to provide this service. Unlocking this potential requires clear price signals, enhanced access to flexibility markets, and interoperable data across the e-mobility ecosystem.
Europe's flexibility needs are set to double in the next five years as more renewables enter the system and end-use sectors electrify. EV batteries could provide around 114 TWh of battery capacity by 2030 – enough to power 30 million homes every year – equal to 4% of Europe's projected annual power demand. Yet, this potential remains largely untapped.
"Our study shows EVs can help drivers make money while stabilising the power system, but customers need choice in the market and clear incentives to act."– said Eurelectric's Secretary General Kristian Ruby.
EV sales have passed the early adopters stage and must now convince mainstream consumers. Yet, high upfront costs remain the main barrier to EV adoption, which slightly declined year-on-year in 2024, while already picking up in 2025. By providing flexibility, however, consumers could benefit from much lower running costs, bringing the total cost of EV ownership below that of conventional cars.
Charging availability is another source of concern. Public chargers grew by 30% in 2024, reaching more than 820,000 units but must grow even faster to get to the Commission's 3.5 million target by 2030. This means installing 8,600 chargers per week.
"For consumers to play an active role in flexibility, the entire e-mobility ecosystem must help them consider EVs as something more than simply a means of getting from A to B. Easy-to-use smart-charging propositions with clear cost benefits are critical."– added Serge Colle EY's Global Power & Utilities Sector Leader.
On the grid side, distribution system operators (DSOs) could benefit from around €4 billion savings annually as higher flexibility partially reduces infrastructure expansion needs. Yet, this can only succeed if DSO can employ real-time digital monitoring and have access to interoperable data at no cost.
Let's turn potential into power.
