European electric vehicle (EV) owners could save between €450 ($485) and €2,900 annually by utilising smart and bidirectional charging technologies, according to a new study conducted by Eurelectric and EY.
These technological advancements allow EV batteries to store excess electricity and sell it back to the grid via vehicle-to-grid (V2G) systems during peak demand times, helping stabilise the grid by reducing congestion and improving efficiency.
As renewable energy exponentially grows and seeks to integrate into the grid, Europe’s flexibility needs are expected to double over the next five years, according to the study. Increased energy storage will be crucial in supporting the grid through this transition, and EV batteries may have a significant role to play.
By 2030, EV batteries could provide up to 114 terawatt-hours of storage capacity, enough to power 30 million homes and approximately 4% of Europe’s total electricity demand.
However, much of this potential remains untapped.
The report points to the current lack of economic incentives for consumers to adopt these services. To unlock this potential, the study calls for clearer price signals, better access to flexibility markets and more interoperable data across the e-mobility ecosystem.
Eurelectric secretary-general Kristian Ruby said: “Electric cars are fun to drive. Our study shows they can help drivers save money while stabilising the power system, but clear market incentives are key.”
While EV sales are growing, high initial costs and unclear policy signals remain a barrier, reflected in the drop in EV adoption in 2024. Offering more flexibility could significantly lower the overall cost of EV ownership, potentially making EVs more affordable than traditional vehicles.
Alongside hurdles for EV adoption are those for EV infrastructure. While the number of public chargers grew by 30% in 2024 to more than 820,000, there is still a long way to go to meet the EU’s target of 3.5 million chargers by 2030, which would require the installation of 8,600 chargers weekly.
CEO of E.ON and president of Eurelectric Leonhard Birnbaum tells Power Technology on the sidelines of EVision 2025 in Brussels that while these numbers seem daunting, he is unfazed: “In terms of the number of charging points that we have rolled out, every [EU] member state has exceeded its domestic target.
“At the end of last year, the EU had over 850,000 public charging points. Now (5 March), we have achieved a million. We are bang on track.”
Birnbaum highlights that although the deployment of public chargers is not a cause for concern, utilisation rates are. “Unitisation is so low. If the utilisation rate is only at 15%, we could even afford to slow down [deployment] a little”, he says.
The CEO and president concludes: “I think whether we hit the 3.5 million [chargers by 2030 target] or not doesn’t really matter. We [Europe] have showed that we can build the demand once the demand [utilisation] picks up.”
Power Technology is in attendance at EVision 2025, with reporter Robert Prendergast available for interviews on the ground. Contact him at robert.prendergast@globaldata.com.
