Equity Analyst, LightStream Research

Supun Walpola

Equity Analyst

Long-Short Analysis on Japan, Asia and the World

LightStream Research

LightStream conducts quantitatively rigorous and data-driven analysis with a focus on Japan and Asia.

We consistently cover the Tech, Consumer and Industrial sectors, and provide ECM and Events coverage more broadly.

We supplement traditional qualitative insights from company relationships with a robust quantitative foundation that examines as much historical data as is available.
We further refine the accuracy of our insights and calls through the use of alternative data to flesh out current trends, and through a valuation framework that emphasises non-superficial peer group selection and a proper attempt to understand the metrics and changes that have driven security valuations in the past.

Thematic (Sector/Industry)

Vehicle to Grid (V2G) technology is based on the notion of returning extra energy stored in electric vehicle (EV) batteries back to the grid to stabilize the electricity demand during peak hours. V2G proposals go back as far as to the time when EVs were first introduced, however, they have remained a rather theoretical concept until recently where commercial application of the technology has started to gather momentum.V2G technology requires an EV to support bi-directional charging, i.e. flow of energy both from and back to the grid. A few EV models such as the Nissan Leaf and Mitsubishi Outlander PHEV are already V2G enabled, while some popular EV brands like Tesla and Chevrolet are yet to embrace bi-directional charging. EVs are usually charged during off-peak hours, and then connected to a V2G charging unit during peak hours to send back extra energy stored in the battery to the grid on demand. This gives light to the concept of Carbitrage, i.e. charging EVs during off-peak hours when the electricity cost is low, and selling the stored energy back to the grid at a higher rate during peak demand hours.In this note, we examine the progress of V2G adoption around the world, and the feasibility of V2G applications against the current healthy backdrop for EVs.

Vehicle to Grid (V2G) technology is based on the notion of returning extra energy stored in electric vehicle (EV) batteries back to the grid to stabilize the electricity demand during peak hours. V2G proposals go back as far as to the time when EVs were first introduced, however, they have remained a rather theoretical concept until recently where commercial application of the technology has started to gather momentum.V2G technology requires an EV to support bi-directional charging, i.e. flow of energy both from and back to the grid. A few EV models such as the Nissan Leaf and Mitsubishi Outlander PHEV are already V2G enabled, while some popular EV brands like Tesla and Chevrolet are yet to embrace bi-directional charging. EVs are usually charged during off-peak hours, and then connected to a V2G charging unit during peak hours to send back extra energy stored in the battery to the grid on demand. This gives light to the concept of Carbitrage, i.e. charging EVs during off-peak hours when the electricity cost is low, and selling the stored energy back to the grid at a higher rate during peak demand hours.In this note, we examine the progress of V2G adoption around the world, and the feasibility of V2G applications against the current healthy backdrop for EVs.

V2G Technology: A Fortune or a Hoax?