The electric vehicle (EV) landscape in Europe is on the cusp of a transformative shift, as evidenced by the revelations from EVision 2025 in Brussels. The study, a collaborative effort between Eurelectric and EY, paints a compelling picture of the financial and grid-stabilising benefits that smart and bidirectional charging technologies can offer EV owners. These technologies, which enable vehicle-to-grid (V2G) systems, could see European EV owners saving anywhere from €450 to €2,900 annually. This is not just a boon for consumers; it’s a game-changer for the energy sector.
The study underscores the pivotal role that EV batteries could play in the energy transition. As renewable energy sources continue their exponential growth, the grid’s flexibility needs are set to double over the next five years. EV batteries, with their potential to provide up to 114 terawatt-hours of storage capacity by 2030, could be the key to stabilising the grid. This capacity is substantial enough to power 30 million homes and meet approximately 4% of Europe’s total electricity demand. However, this potential remains largely untapped due to a lack of economic incentives for consumers.
Leonhard Birnbaum, CEO of E.ON and president of Eurelectric, and Christian Levin, CEO of Scania and chair of the ACEA Commercial Vehicles Board, highlighted the need for clearer market incentives, better access to flexibility markets, and more interoperable data across the e-mobility ecosystem. Birnbaum, speaking on the sidelines of EVision 2025, expressed confidence in Europe’s ability to meet its charging infrastructure targets. Despite the daunting numbers, Birnbaum noted that every EU member state has exceeded its domestic target for charging points. As of March 5, the EU has achieved over a million public charging points, a significant milestone. However, he also pointed out the low utilisation rates of these chargers, suggesting that the focus should shift towards increasing demand rather than just deploying more infrastructure.
The study’s findings and the insights from industry leaders at EVision 2025 underscore a critical juncture in the EV sector. The potential for EVs to not only reduce transportation emissions but also to stabilise the grid and lower energy costs is immense. However, realising this potential requires a concerted effort to create clear market incentives and improve the interoperability of data across the e-mobility ecosystem. The current drop in EV adoption in 2024, attributed to high initial costs and unclear policy signals, serves as a stark reminder of the challenges that lie ahead.
The path forward is clear: Europe must prioritise creating a supportive regulatory environment that encourages the adoption of smart and bidirectional charging technologies. This includes providing economic incentives for consumers to participate in V2G systems and ensuring that the data across the e-mobility ecosystem is interoperable. By doing so, Europe can unlock the full potential of EVs, making them not just a sustainable mode of transportation but also a cornerstone of a stable and efficient energy grid. The sector is at a pivotal moment, and the decisions made today will shape the future of both transportation and energy in Europe.
