How V2G Shapes India’s Electrification and Energy Transition: Insights from an Expert
In the State of the Economy podcast, Ankit Mittal, the CEO and co-founder of Sheru, talks about V2G technolgy. It lets electric cars give power back to the electric grid. Sheru, started by Mittal in 2019, helps store energy for renewable energy and electric cars. This technology makes electric cars act like batteries.
They can store energy, give backup power, and balance the electric grid. Sheru has special machines that let energy go both ways between the grid and electric cars. This is a big deal because it’s the first time this has been done worldwide.
This new way brings together many car batteries that aren’t being used and creates a system to swap them. It’s a good way to store a lot of energy and can grow to help even more.
What is V2G Technology and why is it important?
Mittal highlights three crucial pillars of V2G technology: integrating inverters at the hardware level, coordinating charging and discharging through software, and establishing market mechanisms for vehicle owners to engage in grid balancing.
Exploring its benefits, Mittal underscores how V2G accelerates electrification by repurposing EV investments for grid balancing, thereby aiding the energy transition. He forecasts a potential 30% reduction in the grid’s levelized storage costs through V2G implementation, leading to a more cost-effective and sustainable energy infrastructure.
Addressing the challenges, Mittal recognizes the early stage of V2G adoption and the necessity to delve deeper into cost implications, battery longevity, and infrastructure enhancements. Nonetheless, he stresses the significance of actively making V2G operational rather than casting doubts on its feasibility.
They finished talking about Sheru’s goals. They want to make their power capacity bigger, aiming for 1 to 1.5 gigawatts in the next two years. This will help India store more energy, which is needed to bring electricity to more places. Mittal has a plan where different technologies, like V2G, will be important in changing how we use energy. He mentioned projects like the United Energy Interface and changes by the Ministry of Power to make energy processes digital and easier.