State Grid Changzhou completes Jiangsu's first V2G settlement

Changzhou Changshun Comprehensive Energy Service recently received a discharge income of 18.38 yuan ($2.56) from the State Grid Changzhou Power Supply Company.

This marks the first V2G (vehicle-to-grid) power generation grid-connected electricity fee settlement completed in Jiangsu province, representing Changzhou's pioneering achievement in establishing a full-process commercial closed loop for V2G vehicle-grid interaction in the province.

"Although the amount is not large, receiving 'real money' has given us confidence in the commercialization and popularization of V2G technology," said Huang Wei, deputy director of the operations and maintenance center at Changzhou Changshun Comprehensive Energy Service.

"We believe more and more people will participate in vehicle-grid interaction."

V2G technology transforms electric vehicles into "mobile power banks", allowing them to charge from the grid during periods of low electricity demand and feed power back to the grid during peak demand. This not only benefits the grid by leveling peaks and valleys, improving stability and increasing renewable energy integration capacity, but also brings economic benefits to participating operators and vehicle owners.

At the end of April, the Jiangsu Development and Reform Commission issued a notice on Optimizing the Time-of-Use Electricity Pricing Structure for Industry and Commerce to Promote Renewable Energy Integration, Reduce Enterprise Electricity Costs and Support Economic and Social Development, providing a basis for V2G power generation grid-connected electricity fee settlements. The document states that independently installed charging and discharging facilities with the ability to send power back to the grid may voluntarily apply to participate in vehicle-grid interaction, respond to peak demand, discharge power back to the grid, earn profits and follow specified prices for doing so.

Between 3 pm and 5 pm on July 18, three electric buses discharged 47 kilowatt-hours of power to the grid through three V2G chargers with a combined capacity of 360 kilowatts at the Changzhou Zhonglou Vehicle-Grid Interaction Smart Charging Station.

Based on the standard grid electricity price for coal-fired power generation in Jiangsu province of 0.391 yuan per kWh, the electricity fee income was calculated at 18.38 yuan.

"The completion of this settlement is a milestone for the V2G power generation grid-connected electricity fee settlement business in Jiangsu," said Li Min, head of the marketing department at State Grid Changzhou Power Supply Company.

"It also signifies that State Grid Jiangsu Power Supply has taken a new step in supporting the development of vehicle-grid interaction."

As the only city in Jiangsu selected as a pilot for vehicle-grid interaction applications, Changzhou intends to promote large-scale adoption of V2G through initiatives such as launching residential pilot projects, organizing large-scale discharging activities, and enhancing public education and outreach.