Hyundai Motor Group has completed the infrastructure for Vehicle-to-Grid (V2G) pilot services in homes, successfully enabling charging and discharging between electric vehicles and the power grid. V2G technology allows for two-way power exchange between electric vehicle batteries and the grid, and this success is expected to accelerate discussions on commercialization.
According to industry sources on July 8, Hyundai Motor Group has gathered V2G data that reflects actual home living environments through this demonstration. V2G technology charges vehicles during low-demand nighttime hours and supplies power from vehicle batteries to the grid during peak daytime hours. With recent geopolitical risks in the Strait of Hormuz highlighting the importance of energy security, V2G is gaining attention as a means to enhance grid operational efficiency beyond stabilizing fuel supply.
Domestic research institutions anticipate that once V2G is fully commercialized, electric vehicles will be connected to the power grid on a large scale, complementing existing power generation facilities and stationary energy storage systems (ESS).
Specifically, Korea Electric Power Corporation (KEPCO) analyzed that if 100,000 electric vehicles capable of 10 kW bi-directional charging were to discharge simultaneously for one hour, it could provide a power supply effect equivalent to a maximum of 1 GW, comparable to large-scale pumped storage or high-capacity ESS. This 1 GW is nearly the output of a large power generation facility, enough to supply approximately 800,000 people for one hour, which is more than the entire population of Bucheon.
As the number of registered electric vehicles in South Korea is projected to reach about 4.2 million by 2030, the potential for V2G to serve as an alternative power resource will increase as its adoption expands. According to KEPCO's calculations, utilizing 4.2 million electric vehicles could provide flexible power resources equivalent to 42 large-scale power generation facilities of 1 GW each.
If this 42-facility power infrastructure were to be built, it would require approximately 84 trillion won for pumped storage, while V2G is estimated to cost around 5.46 trillion won. This indicates a potential savings of up to 78.5 trillion won in facility investment costs when utilizing V2G compared to pumped storage.
There is also a significant difference in the time required to establish power infrastructure. Building a 1 GW facility through pumped storage takes over seven years, while a stationary battery energy storage system (BESS) requires more than six months. In contrast, V2G, which can leverage existing electric vehicles and charging infrastructure, can be established in about one month.
Previously, Hyundai Motor Group conducted a V2G pilot service with 40 owners of Hyundai Ioniq 9 and Kia EV9 vehicles residing in Jeju. The company reported that most customers were satisfied with the convenience of the service. Through this pilot, the company analyzed charging connection frequency, usage patterns by time of day, and acceptance of battery discharging, with plans to design a V2G commercialization service model and customer compensation system. This will also be utilized for future V2G-based projects in the Saemangeum AI Hydrogen City.
However, the legal framework for V2G commercialization in South Korea is lacking. Currently, electric vehicles are not clearly defined as participants in the power market or as distributed energy resources, meaning there is no legal basis for officially recognizing their power supply to the grid. Additionally, there are no specific criteria regarding who can participate in power trading or how the compensation for power supply will be calculated.
An industry insider stated, "Overseas, V2G is already on the brink of commercialization as a power resource complementing national power grids. South Korea must create conditions for V2G commercialization to expand beyond the Jeju demonstration to the entire country." The insider added, "Regulatory improvements and the prompt establishment of legal foundations for electric vehicle participation in the power market, as well as settlement and compensation standards, are essential."
* This article has been translated by AI.
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