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Does V2G add up?

  • 22 September 2019
  • 2 replies
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I'm trying to figure out whether V2G will be cheaper than an off-peak charging tariff.

I use 3,500 kWh per year for my house.
I'm buying a LEAF and will use 5,000 kWh to do 20,000 miles per year

If I use Octopus Go, I can charge the car for 5p/kWh and run the house for 14p/kWh, making a total cost of £740

If I get all my electricity from OVO at 17p/kWh, that's going to cost £1,445 per year, basically double the price of the Octopus tariff.

So how much will I make from selling electricity back to OVO on the V2G tariff? How much will I earn net per kWh and how many kWh should I expect to be selling?

I love the idea of V2G and want to take part in the trial, but I can't afford to do it if it's going to leave me out of pocket...
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Best answer by Chris_OVO 23 September 2019, 13:04

Good afternoon @colinthechemist,

To introduce myself, I've recently joined OVO and will be involved with V2G going forwards - i'm looking forward to helping resolve some of the queries and join in the conversation!

Back to your question, my colleagues Ollie and Sean have a calculator that uses your current energy and driving profile as a basis for the annual figure using V2G with OVO.

They'll happily talk you through how OVO and V2G could work for you, plus any other questions you may have around the next steps - you can give them a ring on 0330 102 7423, or email on v2g@ovoenergy.com
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Hello Colin,

Firstly, welcome to the V2G forum. When you mention you are getting a new LEAF, what size are you getting? I started on the 30 kW, presently have the 40 kW and hope to have my 62 kW by December.

My tariff is an old one, ie 14.45p per kWh 24 hours a day and I export at 30p per kWh....making 15.55p per kWh. You will get 30p per kWh but make less profit because you are on a newer higher tariff.

I start exporting to the grid about 4.00pm up to 3.4 kWh and start importing from the grid at 6 kWh from midnight, ready for 7.00am. ( the amount you import and export depends on when you want 100% in the car by. I set it for 7.00am so back calculate how long it'll take to charge at 6 kWh to give you 100% and before that export at 3.4 kWh and it will tell you the time it will start exporting based on a minimum 25% in the battery)....so as you can see if you have a 62 kWh battery it will export more to the grid and start earlier.

I'm retired so my car hardly moves from the garage and in August I did 70 miles total so was free to export all 31 days.

Between 4.00pm and midnight, when I'm exporting, any usage in the house is taken from the battery and you only get reimbursed for what you export to the grid, not what you export to the house....but I'm not sure if what they quote as "exported" is what they get back or everything taken from the car. I assume it's only what goes to the grid and not the house. Let me know if that makes sense cause it's a bit confusing.

So, in August I exported 599 kWh to the grid and was probably the most you would ever export with a 40 kW LEAF. So I'll let you work out the pennies for your situation.

One thing to remember though. If you are charging in a garage the battery is getting used from 4.00pm till 7.00am. That means it gets really warm and is normally about 25C at 7.00am This has two advantages. Firstly the garage will be warm as toast so in the winter you won't need a heater if you want to work in the garage. Secondly because 25C is about the optimum temperature for battery efficiency you'll find your mileage will increase. My average before the trial used to be 3.5 mpkW but since the trial is now 4.5 mpkW without any change in driving style.

I'm probably unique in my lifestyle so my circumstances probably don't compare with yours but I've calculated I should be earning about £80-£90 a month (plus you get the 5% VAT back and earn 3/4/5% interest on what you have in advance ). In short, I'll be getting my electricity, gas and car fuel paid for in all and £10 back in my arse pocket.....but doubt anyone else will be as fortunate.

Oh and if you have solar panels you get 26p per kWh not 30p...but I think that's on top of what you get for the feed in tariff so you may make more than me there.

Leo
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Good afternoon @colinthechemist,

To introduce myself, I've recently joined OVO and will be involved with V2G going forwards - i'm looking forward to helping resolve some of the queries and join in the conversation!

Back to your question, my colleagues Ollie and Sean have a calculator that uses your current energy and driving profile as a basis for the annual figure using V2G with OVO.

They'll happily talk you through how OVO and V2G could work for you, plus any other questions you may have around the next steps - you can give them a ring on 0330 102 7423, or email on v2g@ovoenergy.com

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