January 27, 2022

VW’s partner, Energy Web to explore blockchain, EV batteries for energy storage

2 min read

Energy Web, an alliance of Volkswagen  Group Innovation, explored electric vehicle (EV) charging points. The strategy is meant to use electric vehicle batteries to store renewable energy in excess and later be filled into the main system when the energy demand exceeds the normal threshold.

The alliance’s main goal between the two companies is to enhance seamless-end-to-end electric participation in expanding the electric vehicle market. The participation here includes; Electrify America or any other related public facility.

Electrify America is a subsidiary of Volkswagen that has over 500 charging stations in the United States. They were installed five years ago as part of the settlement over the Volkswagen Diesel scandal. The firm was ready to place an investment worth $2 billion in Zero Emission Vehicle charging infrastructure strategy.

The next set of environmental benefits can be gained from the batteries as electric vehicles help reduce emissions. Sources of power will become less consistent since distributed energy resources (DERs) like wind farms and solar panels receive more integration with an electric system. The reason here is that one cannot wind or sun on and off as done in generators. All that is required here is balancing the system by having extra energy storage and electric vehicle batteries to fit the bill.

The partnership will help increase the mobility of electricity and deliver more services to esteemed electric vehicle buyers. To work effectively, the company has to make an easier way to help EVs seamlessly participate in energy markets. If the participants bear fruits, then the energy system would absorb the two dealers around the area. EVs can help pay consumers to bring more stability to the system.

The more Evs become the main point of attention, the more charging requirements will be. That is why the increased need to charge EVs has added more weight to the grid’s imbalance, particularly when people charge during the night. ¬†Bloomberg New Energy Finance anticipates having more sales in 2040, i.e., from 1.7 million in 2020 to 54 million in 2040. Managing charging time could be of great help if that target has to be achieved. Also, Electrify America plans to launch a home charging solution called Home station to solve many issues that come with caring EVs.

Marvin Schroeder, project leader at VW Group Innovation, said a clear exploration of the abilities to be used by blockchain technology offer for smart charging applications. the Volkswagen project would use a technology provided by Energy Web and EV charging strands to carry out its operations.

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