In a groundbreaking move toward a greener future, Volvo Cars has unveiled its latest venture, Volvo Cars Energy Solutions. This innovative initiative seeks to harness the untapped potential of electric cars and their batteries beyond mere transportation.
While electric vehicles (EVs) are already hailed as crucial steps towards a more sustainable society by eliminating tailpipe emissions, Volvo Cars believes they can do much more.
Did you know that stationary electric cars can power homes, appliances, and even contribute surplus energy back to the grid?
Volvo Cars Energy Solutions aims to capitalise on this potential, creating a bridge between EVs, customers’ lives, energy efficiency, and society as a whole.
One of the key technologies Volvo is pioneering is bi-directional charging. This technology enables electric cars to feed excess battery power back to the grid, helping balance energy demands during peak hours and reducing the need for fossil-generated electricity.
Volvo’s flagship model, the fully electric EX90 SUV, will be equipped with the hardware and software required for bi-directional charging and direct energy storage from solar panels.
To test these innovative technologies, Volvo has partnered with Göteborg Energi Nät AB, the local grid company in its Swedish hometown of Gothenburg, launching one of the first vehicle-to-grid (V2G) pilot programs. This program will assess V2G technologies on the local energy grid and within households, using a cost-effective AC wallbox to accelerate wider adoption.
With Volvo’s ambitious goal to become a fully electric car company by 2030, the company plans to introduce millions of electric Volvo cars on the roads in the coming years. The collective battery capacity of these vehicles is expected to reach around 50 GWh by mid-decade. Recognising that the average daily drive in Europe utilises only a fraction of the available battery capacity, Volvo aims to repurpose this surplus energy through technologies like V2G, offering financial benefits to customers and significant climate advantages.
Bi-directional charging allows customers to reuse the energy stored in their electric Volvo’s battery, paving the way for various applications. V2G is just one part of the envisioned ecosystem under Volvo Cars Energy Solutions. The company is also exploring vehicle-to-home (V2H) products, enabling energy flow back to homes to reduce energy bills, and vehicle-to-load (V2L) services, where EV batteries power camping gear or charge electric bicycles.
Beyond its environmental impact, Volvo Cars Energy Solutions is expected to generate substantial new revenues from energy-related products and services, enhancing the core business, improving customers’ lives, and contributing to a greener planet. With this initiative, Volvo Cars is not just revolutionizing transportation but also redefining the future landscape of sustainable energy usage.
