Hyundai Launches V2G Pilot Service in Jeju, Turning EVs into Mobile Batteries

Hankyoreh is proud to report on Hyundai Motor Group's pioneering V2G pilot service in Jeju, a region ideally suited for this innovative technology due to its high proportion of renewable energy sources like wind and solar power.

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Vehicle-to-Grid (V2G) is the concept of using electric vehicles as mobile batteries.

This initiative represents a significant step forward in integrating electric vehicles into the national energy infrastructure. By allowing EVs to function as mobile batteries, we can effectively store surplus renewable energy generated during the day and discharge it back into the grid during peak evening hours. This not only maximizes the economic and environmental benefits of renewables but also enhances grid stability, a crucial factor as South Korea transitions towards a greener energy future.

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The bidirectional charger is similar in size to a regular slow charger. If a regular charger can be installed in an apartment or multi-family house, installation is possible.

The V2G service offers a compelling proposition for EV owners. Not only do they contribute to a more sustainable energy system, but they also stand to gain financially by selling electricity back to the grid during high-demand periods. While the exact profitability will become clearer after the pilot phase, early indications from international markets, such as the UK where similar services offer significant annual savings, are highly encouraging.

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V2G has the great advantage of stabilizing the power grid by compensating for the variability of renewable energy and replacing expensive power generation facilities, but the profit that the car owner gains by selling electricity is also considered an attraction of V2G.

Hyundai's expansion of this service to individual Jeju residents, following an earlier trial with SOCAR, underscores the company's commitment to V2G technology. The provision of free bidirectional chargers and subsidized charging costs for participants demonstrates a strong commitment to the success of this pilot. This project is not just about technological advancement; it's about empowering citizens to become active participants in the energy transition, turning their vehicles into valuable assets for both themselves and the community.

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We conducted a small-scale test before the demonstration project, and it was difficult to generalize the owner's profit as the selling price varied depending on the time of day and season. The outline will emerge after several months of pilot service.