Kelley Blue Book: Can EVs help power the grid? This experiment may find the answer.

by | Sep 20, 2022 | Stock Market

Electric vehicle advocates dream of a day when millions of electric cars help back up America’s energy grids. A North Carolina energy company is looking for volunteers to experiment with the idea now. Duke Energy
has asked state regulators for permission to launch a pilot program that “will reduce vehicle lease payments for program participants who lease an eligible electric vehicle, including Ford
F-150 Lightning trucks. In exchange, customers will allow their EVs to feed energy back to the grid – helping to balance it during peak demand.”

EVs that give and take electricity The Lightning is one of several new electric vehicles that can provide energy as well as use it. Shoppers can also find so-called bi-directional charging on the Hyundai Ioniq 5 and some newer Lucid
Air models. The GMC Hummer is capable of limited bi-directional charging to run power tools in the field but doesn’t provide enough energy to power a home like the Lightning does. Duke Energy’s press release doesn’t say what other vehicles might be eligible. The power company is seeking 100 owners of EVs with bi-directional charging who will let the utility draw electricity from their vehicles up to three times a month during peak energy periods in summer and winter and once a month during off-peak times. In exchange, Duke will reduce their payments by $25 per month. The program won’t launch until next year. Duke Energy would need to install equipment in the owners’ homes that would allow the trucks to provide power to the electric grid. Owners would a …

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