Core Insights - The concept of Vehicle-to-Grid (V2G) is gaining traction as electric vehicle owners can potentially earn money by selling electricity back to the grid, marking a shift in energy and transportation integration [2][3] - V2G technology allows electric vehicles to act as mobile energy storage units, providing power to the grid during peak demand and charging during off-peak times, thus enhancing grid stability and efficiency [2][3][5] V2G Development and Implementation - V2G has transitioned from experimental stages to practical applications, with pilot projects launched in several Chinese cities starting in 2023, and a formal announcement of large-scale applications in 2024 [3][6] - By 2050, it is projected that China will have over 350 million electric vehicles, with a total storage capacity of 240 billion kilowatt-hours, fundamentally changing the operation of the power system [3][6] Economic Model and Benefits - The V2G model operates on a dual charging and discharging mechanism, allowing vehicle owners to charge during low-cost periods and discharge during high-cost periods, thus capitalizing on price differentials [5][6] - For instance, in a Beijing pilot, vehicle owners could earn over 1,700 yuan annually by participating in V2G, with even higher potential earnings in other regions like Wuhan [6][7] Strategic Importance - V2G addresses the "double peak" challenge in China's power system, providing a flexible and cost-effective solution for peak load management, with estimates suggesting it could contribute 200 million kilowatts of peak shaving capacity by 2030 [7][9] - The technology also enhances the utilization of renewable energy sources by absorbing excess green electricity and releasing it during periods of low generation, supporting carbon neutrality goals [7][9] Future Outlook and Challenges - Despite its potential, V2G faces challenges such as high costs of V2G charging stations, the need for vehicles to support bidirectional charging, and concerns over battery lifespan due to frequent charging cycles [10][11] - Industry forecasts suggest that by 2028, all new electric vehicles sold in China will be equipped with V2G capabilities, with over 10 million vehicles participating in discharging by 2030, necessitating collaboration across policy, industry, and technology sectors [11][12]