To Get more Insights,  Request A Free Sample 

Emerging V2G Opportunities Beyond the Grid for Unlocking New Value Streams

• The integration of V2G technology with smart Home Energy Management Systems (HEMS) is creating a significant new opportunity: In 2024, several leading V2G technology firms announced partnerships with HEMS providers to create unified home energy ecosystems. These integrations allow homeowners to not only participate in grid services but also to optimize their energy usage, maximize self-consumption from rooftop solar, and use their EV as a seamless home backup during outages. One such partnership announced in early 2025 aims to equip 10,000 homes with integrated V2G-HEMS solutions, creating a new standard for residential energy resilience and efficiency.
• A powerful trend priming the market for mass V2G adoption is the rapid proliferation of Vehicle-to-Load (V2L) and Vehicle-to-Home (V2H) functionalities: Automakers in the Vehicle-to-Grid (V2G) market are using these more straightforward applications as a key marketing feature, familiarizing consumers with the concept of using their car as a power source. In 2024, the number of EV models offered in North America with standard V2L capabilities grew to over 20. Data from early 2025 shows that over 50,000 new EV owners used their V2L feature for activities like camping or remote work, building trust and demonstrating the utility of bidirectional power.

Commercial Fleets Transform into Profitable Virtual Power Plant Assets

Demand in the Vehicle-to-Grid (V2G) market is being supercharged by the commercial fleet sector. Operators are recognizing that their electric vehicle assets can also serve as revenue-generating mobile batteries. In a 2024 pilot, a leading logistics firm discharged a total of 500 megawatt-hours back to the grid, highlighting the scale of this opportunity. Recognizing this potential, 25 municipalities in the U.S. issued tenders specifically for V2G-capable municipal service trucks in 2024. The trend is creating a new ecosystem; the number of fleet management software providers that integrated V2G APIs into their platforms reached 15 in 2024, enabling seamless energy market participation.

The financial incentives are compelling. For instance, A 2025 program demonstrated that the average annual grid service revenue earned per electric delivery van was $2,500. To support this, infrastructure is being built out, with 50 commercial fleet depots in North America Vehicle-to-Grid (V2G) market upgraded for multi-megawatt V2G dispatch in 2024. Utilities are actively fostering this segment, with one major European utility announcing 12 new V2G fleet partnerships. The number of last-mile delivery hubs in Europe equipped with bidirectional charging surpassed 400 by early 2025. Consequently, a top V2G fleet software platform saw its managed vehicle count swell to 40,000 EVs by the first quarter of 2025. The momentum extends to public transport, where the number of V2G-operational electric buses in a major European capital reached 250 in 2024.

Advanced Software and Data Platforms Are Now Defining V2G Market Success

The sophistication of software is a powerful demand driver in the Vehicle-to-Grid (V2G) market. Advanced aggregation platforms are the critical link that makes widespread grid participation possible and profitable. In 2024, a leading V2G platform provider announced its successful integration with 12 distinct wholesale energy markets, vastly expanding revenue opportunities for its clients. The sheer volume of data being managed is immense; one platform processed an average of 5 million API calls daily in the first quarter of 2025. Security and reliability are paramount, with 10 major software firms formally adopting the ISO 15118-20 cybersecurity protocol in 2024 to safeguard communications.

These platforms are becoming smarter and more efficient across the Vehicle-to-Grid (V2G) market. A top V2G analytics firm analyzed over 2 petabytes of EV charging and discharging data in 2024 to refine its dispatch algorithms. Innovation is protected, with 45 new software patents for V2G battery health algorithms granted in 2024. Performance is also improving, with a next-generation platform achieving a 200-millisecond latency for grid signal response in a 2025 test. Open ecosystems are fostering further innovation, as evidenced by the 30 third-party energy management applications built on one provider's open API. To optimize grid services, 60 new machine learning models were deployed for load forecasting in 2024. A leading software-as-a-service provider now manages 150,000 charging points simultaneously, offering a 99.9% uptime guarantee in its 2025 service agreements.

Segmental Analysis 

BEVs are the Undisputed Powerhouse of the Vehicle-to-Grid (V2G) Market

Battery Electric Vehicles (BEVs) have firmly established their dominance in the Vehicle-to-Grid (V2G) market, capturing a commanding 73.3% market share. Their leadership stems directly from their fundamental design: large-capacity batteries that serve as mobile energy storage units. As the global adoption of BEVs accelerates, with sales in Europe alone growing from 1 million in 2019 to 6.7 million in 2023, the potential for V2G integration expands exponentially. This growing fleet of BEVs offers a decentralized and reliable energy resource that can stabilize electrical grids during periods of high demand or when renewable energy generation is inconsistent. Automakers are catalyzing this trend; for instance, Toyota is targeting 3.5 million annual BEV sales by 2030 and has initiated a V2G research collaboration with SDG&E using its bZ4X model.

The increasing number of BEVs provides a vast, untapped resource for grid services in the Vehicle-to-Grid (V2G) market. In the U.S., a BEV with a 100-kilowatt-hour battery pack has the capacity to power an average California household for nearly a week. This capability is being actively tested in numerous pilot programs. A significant project in China's Jiangsu province involves over 1,200 BEVs, demonstrating the scalability of using these vehicles to feed energy back to the grid during bottleneck periods. Similarly, a large-scale EU project is set to deliver a nominal capacity of 25MW between 2023 and 2027 using an initial fleet of 280 BEVs, with plans to expand to 700. Government and utility initiatives further underscore this momentum, such as ComEd's V2G pilot in Illinois, which is scheduled to run through the end of 2025 and will assess the grid impacts of BEV integration.

• GM has made a commitment to standardize bidirectional charging across its Ultium-based EVs by the 2026 model year.
• In 2025, China's National Development and Reform Commission launched 30 large-scale V2G pilot projects involving over 17,000 electric vehicles.
• A collaboration between BYD and Levo Mobility aims to deploy up to 5,000 V2G-enabled BEVs over five years.

Hardware Innovation Propels the Expanding Market

Hardware stands with over 62.2% market share stand as the critical enabler in the Vehicle-to-Grid (V2G) market, controlling the key position due to its role in facilitating the physical exchange of energy. The most prominent and essential hardware components are bidirectional chargers, also known as Electric Vehicle Supply Equipment (EVSE), and sophisticated energy management systems. These advanced chargers are fundamental because they allow for the two-way flow of electricity, transforming an electric vehicle from a mere consumer of energy into an active grid asset. As V2G systems become more widespread, the demand for this specialized EVSE is increasing, pushing manufacturers to develop more advanced solutions that enable seamless and efficient energy transfer. For example, the Fermata Energy FE-20 bidirectional charger is being utilized in a V2G pilot with Toyota and SDG&E.

The Vehicle-to-Grid (V2G) market leadership of this hardware is driven by both technological advancements and growing compatibility. In 2024, 49% of new charging devices introduced by manufacturers supported V2G compatibility, a clear indicator of the industry's direction. Major pilot programs are deploying this technology at scale; for instance, the Direct Solar DC V2G Hub in the Netherlands featured 10 DC V2G chargers, each with a 10kW capacity. The development of powerful DC wall boxes for home use, capable of delivering 11 kW or 22 kW, will further accelerate residential adoption. Furthermore, the increasing integration of smart technology is crucial; automakers have allocated 33% of their R&D budgets toward V2G enhancement, signaling a future where vehicles are fully integrated grid components.

• Over 28% of all new charging stations installed in 2024 supported two-way power flow.
• Ford's F-150 Lightning utilizes the Ford Charge Station Pro bidirectional charger to enable V2G capabilities.
• In a northern Illinois pilot program, 3,500 new EV charging ports were recently added to support V2G initiatives.

Bidirectional Charging Dominates the Modern Vehicle-to-Grid V2G Market

Bidirectional charging technology is the cornerstone of the Vehicle-to-Grid (V2G) market, accounting for a substantial 60.1% market share. Its dominance is a direct result of its unique capability to enable a two-way flow of energy, allowing electric vehicles to not only draw power from the grid but also supply it back. This functionality is essential for all V2G applications, from providing backup power to homes (V2H) to selling energy back to the grid for profit. The growing demand for this technology is fueled by the increasing number of V2G-ready electric vehicles hitting the market. For instance, 44% of new EV models launched between 2023 and 2024 featured built-in bidirectional charging capabilities. This built-in functionality makes it easier for consumers to participate in V2G programs, thereby driving the adoption of the technology.

The financial and practical benefits for EV owners are a significant factor in the prominence of bidirectional charging. By using their vehicles as mobile energy storage units, owners can reduce their electricity bills or even generate income by selling surplus energy to grid operators during peak demand periods. In 2024, France became the first country to enable commercial V2G, allowing owners of the Renault 5, which includes a bidirectional on-board charger, to earn money from the grid. The expansion of V2G-compatible infrastructure, with over 53% of EV-related subsidies globally now supporting it, further solidifies the leadership of bidirectional charging in the evolving Vehicle-to-Grid (V2G) market.

• The Kia EV9, when paired with the Wallbox Quasar 2, offers full V2H and V2G bidirectional charging functionalities.
• Nissan, a pioneer in this space, has involved more than 500 of its vehicles in various global V2X projects.
• The Netherlands and the UK lead in infrastructure readiness, with 66% of their public charging hubs prepared for V2G use.

Peak Power Application Commands the Lucrative Share 

Peak power sales have emerged as the largest application within the Vehicle-to-Grid (V2G) market, holding a significant 59.3% revenue share. The primary reason for this dominance is the direct financial incentive it offers to both EV owners and grid operators. During times of peak electricity demand, utilities face higher costs to generate or procure additional power. V2G technology provides a cost-effective solution by allowing the grid to draw upon the stored energy in thousands of connected EV batteries. This process, known as peak shaving, helps to stabilize the grid and avoid the need for expensive and often less environmentally friendly "peaker" power plants. For their participation, EV owners are compensated, creating a direct revenue stream that can offset the cost of vehicle ownership.

The economic model of selling power during high-demand periods is highly attractive. EV owners can earn up to $1,000 annually by supplying energy back to the grid, transforming their personal vehicles into active financial assets. This potential for income is a powerful driver for consumer adoption. Utilities, in turn, are increasingly interested, with over 30% of power companies now actively exploring V2G solutions to better manage energy distribution and reduce peak demand by an estimated 10-15%. As smart grid infrastructure expands and more utilities offer structured programs, such as those that provide monetary incentives for demand management, the role of peak power sales in the Vehicle-to-Grid (V2G) market is set to grow even stronger.

• Some performance-based frequency regulation markets are designed for fast-ramping assets like EV batteries, offering specialized revenue opportunities.
• A V2G pilot program by PG&E allows EV owners to earn money by providing energy during high-demand times.
• The University of Delaware has a long-standing partnership with PJM, a regional transmission organization, to participate in the electricity market using V2G.

 To Understand More About this Research:  Request A Free Sample 

Regional Analysis 

Europe’s Policy and Infrastructure Drive Unrivaled V2G Market Dominance

Europe is solidifying its position as the global leader in the Vehicle-to-Grid (V2G) market through decisive policy, robust infrastructure growth, and pioneering commercial deployments. In France, a groundbreaking commercial V2G service was launched in 2024 for Renault 5 owners, setting a precedent for consumer-facing business models. The nation also counted 120,354 public charging points by early 2024, creating a dense network to support bidirectional services. In Germany, utilities are actively procuring V2G services, with one transmission operator contracting for an additional 60 megawatts of V2G-based control reserve in early 2025.

The United Kingdom is also a key driver, with the government funding 20 new V2G innovation projects in 2024 to accelerate technology and commercial readiness. Fleet integration is a major focus, with 4,000 V2G-enabled commercial vans and trucks participating in a nationwide grid-balancing program. In the Netherlands, a country known for its high EV density, 2,500 new residential bidirectional chargers were connected in 2024. Furthermore, Scandinavian countries are running 15 distinct municipal V2G pilot projects. The European Union has also updated its grid code to formally recognize 5 new ancillary services that can be provided by V2G fleets.

North America Rapidly Scales V2G Through Fleet Electrification Initiatives

The North American Vehicle-to-Grid (V2G) market is defined by its focus on large-scale fleet projects, particularly with electric school buses, and substantial utility-led investments. California is at the forefront, where a 2024 initiative will see 74 electric school buses in Oakland return an estimated 2.1 gigawatt-hours to the grid annually. The state further committed funding to bring 1,000 V2G-capable school buses online. New York’s Public Service Commission approved new commercial managed charging programs, while Con Edison’s make-ready program directed $347 million toward fast-charging projects, many with V2G in mind.

Across the continent, Canada’s largest power utility announced a $15 million investment in 2024 for V2G-ready charging infrastructure in 30 communities, pushing the Vehicle-to-Grid (V2G) market further. Underscoring the market's momentum, Nuvve, a key technology provider, celebrated the deployment of its 500th electric school bus charging station in early 2024. Further grid-level integration is evidenced by the PJM Interconnection, which logged 300 V2G dispatch events for frequency regulation in the first quarter of 2025. Federal support is also growing, with 40 new grants awarded for V2G research and deployment.

Asia Pacific Accelerates V2G adoption with Ambitious National Pilot Programs

The Asia Pacific Vehicle-to-Grid (V2G) market is characterized by strong government-led initiatives and large-scale urban pilot programs aimed at tackling grid strain from rapid electrification. China is moving aggressively, launching a national V2G trial in 2024 with a mandate for at least 5 cities to implement city-wide projects. The goal is to shift 60% of EV charging to off-peak hours. In early 2024, NIO operationalized its first 10 V2G charging stations in Shanghai across various commercial and residential settings.

In Japan, where V2G has a longer history, the government received 50,000 applications for its 2024 V2G and V2H subsidy program, indicating strong consumer interest. South Korea is running 8 major V2G demonstration projects involving 1,200 EVs to test various grid service models. Australia is focusing on fleet trials, with 250 commercial EVs participating in a Sydney-based frequency regulation pilot. Meanwhile, Singapore launched its largest testbed in late 2023, involving 15 commercial vans and 10 chargers.

Recent Developments Shaping the Vehicle-to-Grid (V2G) Market

• The Mobility House Secures Series C Funding: The German V2G specialist successfully closed a new funding round in April 2024, co-led by investors including Mercedes-Benz, to expand its software platform across Europe and North America.  
• Nuvve Announces Post-IPO Equity Investment: In October 2024, V2G technology leader Nuvve Holding Corp. secured $3.38 million in a post-IPO equity transaction to support its global school bus electrification projects and expand its GIVe software platform.  
• Ford and Duke Energy Expand F-150 Lightning V2G Program: Building on earlier collaborations, Duke Energy and Ford announced in early 2024 an expanded pilot program in North Carolina, offering financial incentives for F-150 Lightning owners who enroll in their V2G grid services.  
• Cemex Ventures Invests in V2G Startup: The corporate venture capital unit of Cemex made a strategic investment in a European V2G technology startup in mid-2024 to explore using electric heavy-duty vehicle fleets as energy storage assets at its industrial sites.  
• OVO Energy Funds V2G Infrastructure Rollout: UK energy supplier OVO announced a multi-million pound investment in early 2024 to deploy thousands of domestic V2G chargers for its customers, creating one of the largest residential virtual power plants in the country’s Vehicle-to-Grid (V2G) market.  
• Canadian Pension Fund Invests in V2G Aggregator: A major Canadian pension fund led a significant funding round for a North American V2G aggregator in 2024, signaling confidence from institutional investors in the long-term profitability of V2G services.  
• Automaker Consortium Announces $1 Billion for Charging Network: A joint venture of seven major automakers, including GM and BMW, announced in late 2023 plans to begin opening charging stations in 2024, with a focus on future-proofing the network to support V2G functionalities.  

Top Players in Vehicle-to-Grid (V2G) Market

• Nissan Motor Corporation
• Mitsubishi Motors Corporation
• NUVVE Corporation
• ENGIE Group
• OVO Energy Ltd.
• Groupe Renault
• Honda Motor Co., Ltd.
• Hyundai Motor Company
• Edison International.
• DENSO Co.
• Boulder Electric Vehicle
• EV Grid
• Hitachi
• Next Energy
• NRG Energy
• OVO Energy Ltd.
• Other Prominent Players

Market Segmentation Overview:

By Vehicle Type

• Battery Electric Vehicles (BEVs)
• Plug-In Hybrid Electric Vehicles (PHEVs)
• Fuel Cell Vehicles (FCVs)

By Solution Type

• Hardware
  • Electric Vehicle Supply
  • Equipment (EVSE)
  • Smart Meters
  • V2G chargers
• Software
  • V2G program administration
  • Dynamic load management system
• Services

By Charging Type

• Unidirectional
• Bidirectional

By Application

• Peak Power Sales
• Spinning Reserves
• Base Load Power
• Others

By Region

• North America
  • The U.S.
  • Canada
  • Mexico
• Europe
  • Western Europe
    • U.K.
    • Germany
    • France
    • Spain
    • Italy
    • Rest of Western Europe
  • Eastern Europe
    • Poland
    • Russia
    • Rest of Eastern Europe
• Asia Pacific
  • China
  • India
  • Japan
  • Australia & New Zealand
  • ASEAN
  • Rest of Asia Pacific
• Middle East & Africa (MEA)
  • UAE
  • Saudi Arabia
  • South Africa
  • Rest of MEA
• South America
  • Argentina
  • Brazil
  • Rest of South America