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About Powerloop
How Vehicle-to-Grid is changing the game
Electric vehicles have been criticised for placing more demand
on an already overloaded grid. But a consortium of industry
experts is hoping that electric vehicles could be the solution to
the grid’s capacity issues, rather than a problem. Led by Octopus
EV and Octopus Energy, the consortium has won over £3m of
funding from Innovate UK (backed by government departments
DfT and BEIS) to test the viability of vehicle-to-grid charging on
UK roads.
The Powerloop project offers EV drivers the chance to help
balance demand by supplying the grid with power from their car
batteries during the peak hours of 4-7pm, before recharging in
the early hours of the morning while demand is lowest. In return
for plugging in their cars 12 times a month to supply charge
during the evening, Powerloop drivers will get money off their
monthly leasing cost.
As well as the monthly lease of an electric vehicle, Octopus EV organises the
installation of a home charge point and smart meter. The monthly lease cost can
also include insurance, service and maintenance, as well as help and support for
the duration of the contract.
There’s even a bespoke electricity tariff, designed specifically with EV drivers
in mind. Dubbed Octopus Go, it offers renewable electricity at just 5p/kWh
between the hours of 12.30am and 4.30am, allowing people to charge their cars
for just a fraction of the daytime cost for 70% less than a standard variable tariff
from a Big 6 supplier.
Octopus EV has also partnered with myenergi, to offer the innovative Zappi
charge point, which automates charging to take advantage of these prices.
Octopus can arrange the installation of
the Zappi via trusted installers that can
help unlock the £500 home charge
point grant from the government.
This world-first tariff is possible thanks
to Octopus EV’s relationship with
Octopus Energy. The supplier is
already taking advantage of the
potential of smart meters with the
Agile Octopus tariff, which lets
customers see the fluctuations in
wholesale energy prices and adjust
their usage accordingly. It’s just the
beginning of how the company intends
to use smart meter technology, which
allows them to measure and record
electricity usage in real-time and offer
cheaper electricity when demand on
the grid is low.
Fiona Howarth believes this will be a
landmark year for electric vehicle
adoption in the UK. “Tesla has
revolutionised the market and now all
other vehicle manufacturers are rapidly
bringing their EVs to the market. Think
of the switch from analogue phones to
smart phones - we’re in a similar
transitory phase. If the Government
can deliver on their EV plans, and we
think they can, the carpark of
tomorrow is going to look very
different to the gas-guzzling lot
of today.”
12
April 2019