Abstract:

Low-carbon and renewable energy sources (RESs) are quickly gaining traction as a viable option for addressing rising global electricity demand while reducing carbon emissions. The electrification of the transportation industry has already begun in many developed countries, in combination with the construction of multi-GW renewable energy capacity, mainly wind and solar, and significant investment in power storage technologies and end-user energy demand management. The expansion of the Electric Vehicle (EV) market presents a new opportunity to create a cleaner and transformative new energy carrier. For instance, a managed EV battery charging and discharging profile in conjunction with the national grid, known as the Vehicle-to-Grid system (V2G), is projected to be an important mechanism in reducing the impact of renewable energy intermittency. This paper presents an extensive literature review of EVs and allied interface technology with the power grid. The main findings and statistical details are drawn from up-to-date publications highlighting the latest technological advancements, limitations, and potential future market development. The authors believe that electric vehicle technology will bring huge technological innovation to the energy market where the vehicle will serve both as a means of transport and a dynamic energy vector interfacing with the grid (V2G), buildings (V2B), and others (V2X).