Unlocking earning potential of V2G-enabled electric vehicles

The University of Delaware, Exelon Corporation/Delmarva Power and collaborators have released a new report showing that electric vehicles equipped with vehicle-to-grid (V2G) technology can be profitable for private owners and businesses alike, with data from real electricity markets to back up the claims.

The report is the outcome of a pilot program announced in 2024 by UD, and completed at the offices of Delmarva Power, which is part of Exelon Corporation, to confirm the value of V2G services to the grid.

Among the key findings: the collaborators report that a V2G-enabled passenger electric vehicle (EV) could earn as much as $3,359 per year, based on 2021-2025 market prices, for storing and supplying energy to the electric grid during times of need, otherwise known as providing grid services. Heavier vehicles, such as fleet vehicles, delivery trucks or school buses, could earn over $9,000 per year, per vehicle.

That's a powerful income generator, given that privately owned vehicles are parked 96% of the time, on average, in the United States. Company fleet vehicles - even those operating 40 hours per week - remain stationary 75% of the average work week.

The pilot, which included collaborators Ford Motor Company, the region's electric grid operator PJM Interconnection, and aggregator Nuvve Corp., was tested using a small fleet of Delmarva Power EVs retrofitted with the bidirectional charging technology and a new advanced communications standard.

The term "bidirectional charging" means that the V2G technology enables electric vehicle batteries to store extra energy from the electric grid when there is a surplus and to discharge that energy back to the grid when it is needed. In this way, V2G-enabled EVs can help the grid stay balanced, strengthening grid resilience and reliability, especially during peak demand and extreme weather events. New PJM rules allow properly certified EVs to provide this balancing and be paid for it - and the pilot proved they can meet these requirements and be paid for the service.