By Anna Hirtenstein and Gilles Guillaume
LONDON/PARIS (Reuters) -Dutch car sharing firm MyWheels will plug in the first of 500 grid-connectable Renault EVs to its fleet in the Netherlands this week, expanding the number of vehicles in Europe capable of strengthening the power grid as the technology gains traction.
Vehicle-to-grid technology, known as V2G, allows electric vehicles to store power and provide it to the electricity grid at times of peak demand. The technology has been available for several years but only recently became commercially viable after the introduction of smart charging technology and batteries able to sustain intensive usage.
The rollout by MyWheels will be the largest V2G car-sharing scheme in Europe and the largest addition of V2G-enabled cars in the region.
It follows growing concern about grid stability after a major blackout in Spain and Portugal this year, and sabotage to power supply in southern France during this year’s Cannes film festival, which have triggered more interest in a technology that can help balance fluctuating supply and demand, said Kees Koolen, an investor in We Drive Solar, the Dutch producer of the special chargers used in the project.
“It feels like we’re at a tipping point,” said Koolen, who estimated that the project in the Dutch city of Utrecht has cost around 100 million euros ($114 million) to develop.
The global V2G market was worth $3.4 billion in 2024, according to Global Market Insights, and is expected to grow by 38% annually between 2025 and 2034 to reach $80 billion.
The Netherlands is an early adopter of V2G technology due to ambitious plans to electrify its transport and heating systems while also moving to renewables. Japan’s Nissan has also recently supplied dozens of V2G-enabled Leaf and Ariya models to France and Spain.
MyWheels says 500 of Renault’s V2G-compatible cars, including its electric R5, will be on the road by next year. When not driving, the cars will be plugged into We Drive Solar’s bidirectional chargers and the scheme’s operators will be paid for electricity absorbed and sold to the grid.
Grids have become increasingly unstable with growing electrification and as more intermittent renewable energy is fed into the system.
“Our research shows that vehicle-to-grid technology could allow the growing electric vehicle fleet to become a significant asset to the grid, with vast storage potential locked up in electric vehicles,” said Madeleine Brolly, advanced transport analyst at Bloomberg New Energy Finance. A key challenge ahead will be standardisation across manufacturers, which will be needed for it to be adopted at scale, she added.
(Reporting by Anna Hirtenstein and Gilles Guillaume; Editing by Dominique Patton and Christian Schmollinger)
