More than 500 residential energy storage batteries will be aggregated into a virtual power plant (VPP) by US utility Portland General Electric (PGE), with some participating households offered US$5,000 rebates on battery system purchases as well as money off their monthly electricity bills.

V2G can significantly reduce energy system greenhouse gas emissions, as well as ensure resilience in the event of power outages and prolong the battery life of an EV, according to a review of nine projects across Europe.

Itochu, a major Japanese corporation which has sold over 330MWh of residential battery storage systems in its home market, has invested ¥1 billion (US$9.35 million) in TRENDE, a renewable energy retailer which counts utility company Tokyo Electric Power among its major shareholders, with a view to launching a range of renewable energy and storage-enabled services.

Tokyo’s main power company is using blockchain distributed ledger technology to assess how customers on its new renewable energy tariffs could use solar, batteries and electric vehicles to trade energy via the grid.

“There are already many Gigawatt-hours of batteries on wheels”, which could be used to provide balance and flexibility to electrical grids, if the “ultimate potential” of vehicle-to-grid (V2G) technology could be harnessed.