The move towards setting up a more eco-conscious sustainable energy system has led to certain technologies getting their rightful amount of attention in recent times, one of them being the vehicle to grid integration services (VGI). The team at Navigant Research has recently come up with a report that sheds light on the current and future prospects all the way up to 2024 while the analysis of these prospects have been carefully based on different segments involved such as geographical region involved, VGI capacity and revenue in minute details for plug-in electric vehicles (PEVs) with vehicle-to-grid capacities.
VGI enabled vehicles by partaking in activities of grid-balancing such as frequency regulation or demand response, can generate revenue and also decrease utility bills for their owners. Though it is important to understand that these vehicles being basically run on electricity can generate quite a massive demand which if unregulated can cause problems to the electricity distribution system especially during peak hours such as office hours. Click to tweet: Going by the forecasts made by the report, VGI services worldwide is expected to rope in a total of $68 million between the years of 2015 to 2024.
Sales of PEVs has picked up all over the world with more 300,000 units having been sold in 2014, hence people involved with developing VGI technologies are coming up with greater frequencies. The introduction of the technology of VGI has allowed something that could be a burden to the grids to now becoming an effective tool of renewing electricity generation and balancing load generation. This could mean at least theoretically electricity facilities for PEVs becoming marginally cheaper and cost-effective.
This industry being quite in its infancy established players aren’t much there, but entrants to this segment are expected to be either major aggregators of the energy sector. Aggregators are much likely to promote VGI-enabled convoys to cater to markets that promise higher returns. They would more likely push capital in local grid service areas to avail noteworthy power capacities.
“Vehicle Grid Integration,” as a report from the house of Navigant Research analyzes and notes market options for VGI technologies to serve in support of grid stability and reliability. The report also includes several factors to be taken into account for this sector as well as current barriers that act as detriment to this service. Included are various case studies and market profiles for comparative study on significant V2G technologies.
An Executive Summary of the report is available for download free of charge on the Navigant Research website.
About Navigant Research
Navigant Research, the research and analysis wing of Navigant is responsible for market specialized work for highly regulated industries from energy to healthcare. Including in-depth analysis and clean business strategies in their repertoire, this team of experts is highly capable of any forms of assistance. All market research done by Navigant Research is up to sync with rapidly changing market and tech scenarios. Additional information about Navigant Research can be found at www.navigantresearch.com.
About Navigant
Navigant is a firm known globally for its professional services in helping clients deal with business risks and growth. Experts at Navigant provide both advisory and strategic assistance for clients looking for comprehensive business solutions. Senior level management to the most junior of analysts, all are available at the beck and call of clients to provide quality services. Firm handles sectors such as construction, energy, financial services and healthcare. More information about Navigant can be found at navigant.com.
References:
http://www.businesswire.com/news/home/20150519005127/en#.VVsWqLmqqko
VGI enabled vehicles by partaking in activities of grid-balancing such as frequency regulation or demand response, can generate revenue and also decrease utility bills for their owners. Though it is important to understand that these vehicles being basically run on electricity can generate quite a massive demand which if unregulated can cause problems to the electricity distribution system especially during peak hours such as office hours. Click to tweet: Going by the forecasts made by the report, VGI services worldwide is expected to rope in a total of $68 million between the years of 2015 to 2024.
Sales of PEVs has picked up all over the world with more 300,000 units having been sold in 2014, hence people involved with developing VGI technologies are coming up with greater frequencies. The introduction of the technology of VGI has allowed something that could be a burden to the grids to now becoming an effective tool of renewing electricity generation and balancing load generation. This could mean at least theoretically electricity facilities for PEVs becoming marginally cheaper and cost-effective.
This industry being quite in its infancy established players aren’t much there, but entrants to this segment are expected to be either major aggregators of the energy sector. Aggregators are much likely to promote VGI-enabled convoys to cater to markets that promise higher returns. They would more likely push capital in local grid service areas to avail noteworthy power capacities.
“Vehicle Grid Integration,” as a report from the house of Navigant Research analyzes and notes market options for VGI technologies to serve in support of grid stability and reliability. The report also includes several factors to be taken into account for this sector as well as current barriers that act as detriment to this service. Included are various case studies and market profiles for comparative study on significant V2G technologies.
An Executive Summary of the report is available for download free of charge on the Navigant Research website.
About Navigant Research
Navigant Research, the research and analysis wing of Navigant is responsible for market specialized work for highly regulated industries from energy to healthcare. Including in-depth analysis and clean business strategies in their repertoire, this team of experts is highly capable of any forms of assistance. All market research done by Navigant Research is up to sync with rapidly changing market and tech scenarios. Additional information about Navigant Research can be found at www.navigantresearch.com.
About Navigant
Navigant is a firm known globally for its professional services in helping clients deal with business risks and growth. Experts at Navigant provide both advisory and strategic assistance for clients looking for comprehensive business solutions. Senior level management to the most junior of analysts, all are available at the beck and call of clients to provide quality services. Firm handles sectors such as construction, energy, financial services and healthcare. More information about Navigant can be found at navigant.com.
References:
http://www.businesswire.com/news/home/20150519005127/en#.VVsWqLmqqko