EV owners may soon earn cash back thanks to new battery tech

According to an experiment conducted by tech firm Fermata Energy, electric vehicle owners may one day be able to earn cash back for charging their car thanks to bi-directional battery technology.

While ordinary batteries only receive energy, Vehicle to Grid (V2G) systems allow energy to be transferred from the car through a special charger. Electric generation and demand fluctuates, sometimes in unexpected ways, causing either waste or strain on the nation’s infrastructure when the two are at odds. The V2G battery technology prevents this by allowing the grid to deposit excess electricity when energy need is low, and take it back when it rises. Consumers who make their car accessible to the grid can earn money by selling this excess energy back to power companies.

V2G systems have existed for some time, however implementing the battery technology effectively has proven difficult. Software has to determine when and where to store or draw electricity, which requires communication between chargers and power companies. However, Fermata Energy has developed a platform which it tested in partnership with New York City. Using the results, the organization estimated that drivers could potentially earn up to $15,000 a decade by participating in a V2G program.

Unfortunately, when exactly car owners can take advantage of bi-directional battery technology is uncertain. While charging systems managed by companies with fleets of vehicles are one thing, it would be even more difficult to implement the platform on a household scale. Still, the nation’s outdated energy infrastructure is one of the key obstacles to a green future. Models which incentivize the public to assist in energy production could be the key to paving the way for widespread EV adoption.

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