Key Impact Points:
- Smart-charging and V2G technologies could save consumers and grids €4 billion annually by 2030.
- Electric vehicles (EVs) could supply 4% of Europe’s electricity—enough to power 30 million homes.
- Optimal charging strategies could significantly cut total vehicle ownership costs, up to 29% annually.
EV Flexibility: Europe’s Energy Future
EY forecasts over 50 million electric vehicles (EVs) on European roads by 2030, representing 15% of total vehicles. Managing EV charging patterns and leveraging vehicle-to-grid (V2G) technology—allowing EVs to return power to the grid—can substantially reduce consumer costs, stabilize the electricity grid, and boost renewable energy integration.
Serge Colle, EY Global Power & Utilities Leader, explains:
“By 2030, flexibility resources across Europe will need to more than double to keep pace with an increasingly intermittent power system. EVs — already abundant and rapidly growing in number — are a readily-available, scalable, and cost-effective asset to provide that flexibility. By shifting EV charging to optimal times and enabling V2G, we can reduce energy costs for consumers substantially, alleviate grid stress, and support the integration of renewables into the energy system.”
Significant Cost Savings for Consumers
EY’s analysis reveals significant cost savings for consumers switching from combustion engines to EVs through smart-charging and V2G:
- Compact EV drivers in the UK could save up to 19% (€1,230 annually).
- Family car owners in Germany could see annual savings of up to 23% (€1,800).
- SUV owners in the UK could save up to 26%, while in Germany savings could reach 29% (€3,000 annually).
Grid Stability and Renewables Integration
Optimizing EV charging will save European grid operators approximately €4 billion annually. Additionally, EVs could supply 114 TWh of energy annually by 2030—powering 30 million homes. By 2040, fully bidirectional charging could store and reinject over 10% of Europe’s energy needs, significantly balancing renewable energy supply.
Kristian Ruby, Eurelectric Secretary General, stresses the urgency:
“Mass market adoption of EVs is happening, but to truly unlock their value, we must integrate them into the grid as flexibility assets. Smart-charging and V2G will be key enablers of this transition.”
Flexibility: Essential, Not Optional
Europe faces an increasing demand for power flexibility due to rapid renewables integration. Negative electricity pricing events surged 160% year-on-year, highlighting the need for flexible grid management.
Kristian Ruby emphasizes consumer engagement:
“For consumers to play an active role in flexibility, the entire e-mobility ecosystem must help them consider EVs as something more than simply a means of getting from A to B. Easy-to-use smart-charging propositions, with clear cost benefits are critical to consumer engagement and adoption. But time is running out because flexibility resources must double within the next five years to match the speed and scale of electrification.”
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