Mar 6, 2025
Owners of electric vehicles in Europe could potentially save as much as €2,900 annually through smart charging.
According to a recent study by Eurelectric and EY, European electric vehicle (EV) owners might save between €450 ($485) and €2,900 each year by implementing smart and bidirectional charging technologies.
These advancements enable EV batteries to store surplus electricity and return it to the grid through vehicle-to-grid (V2G) systems during times of high demand, which helps stabilize the grid by alleviating congestion and enhancing efficiency.
As the adoption of renewable energy surges and efforts to integrate it into the grid increase, the study predicts that Europe’s need for flexibility will double within the next five years. Enhanced energy storage will be vital in supporting the grid during this transition, with EV batteries potentially playing a crucial role.
By 2030, EV batteries could offer up to 114 terawatt-hours of storage capacity, sufficient to power 30 million homes and approximately 4% of Europe’s overall electricity demand.
However, a significant portion of this potential is currently not utilized.
The report highlights the existing lack of financial incentives for consumers to embrace these technologies. To unlock this potential, the study advocates for clearer pricing signals, improved access to flexibility markets, and more interoperable data across the e-mobility landscape.
Eurelectric secretary-general Kristian Ruby remarked, “Electric cars are enjoyable to drive. Our study indicates that they can help drivers save money while stabilizing the power system, but clear market incentives are crucial.”
Despite the growing sales of EVs, high initial costs and ambiguous policy signals continue to pose challenges, as evidenced by the decline in EV adoption in 2024. Introducing more flexibility could significantly decrease the total cost of EV ownership, potentially making EVs more affordable than conventional vehicles.
In addition to the challenges faced in EV adoption, there are also obstacles concerning EV infrastructure. Although the number of public chargers increased by 30% in 2024 to over 820,000, there is still a considerable way to go to achieve the EU’s target of 3.5 million chargers by 2030, which would necessitate the installation of 8,600 chargers each week.
Leonhard Birnbaum, CEO of E.ON and president of Eurelectric, conveyed to Power Technology during the EVision 2025 event in Brussels that while these figures appear intimidating, he remains optimistic: “In terms of the number of charging points we have deployed, every [EU] member state has surpassed its local target.
“By the end of last year, the EU had more than 850,000 public charging points. As of now (March 5), we have reached one million. We are right on track.”
Birnbaum emphasizes that while the rollout of public chargers is not alarming, the usage rates are concerning. “Utilization is currently very low. If the utilization rate is only at 15%, we might even afford to slow down [deployment] a bit,” he adds.
The CEO and president concludes, “I believe whether we achieve the target of 3.5 million [chargers by 2030] is not crucial. We [Europe] have demonstrated that we can stimulate demand once the utilization increases.
These advancements enable EV batteries to store surplus electricity and return it to the grid through vehicle-to-grid (V2G) systems during times of high demand, which helps stabilize the grid by alleviating congestion and enhancing efficiency.
As the adoption of renewable energy surges and efforts to integrate it into the grid increase, the study predicts that Europe’s need for flexibility will double within the next five years. Enhanced energy storage will be vital in supporting the grid during this transition, with EV batteries potentially playing a crucial role.
By 2030, EV batteries could offer up to 114 terawatt-hours of storage capacity, sufficient to power 30 million homes and approximately 4% of Europe’s overall electricity demand.
However, a significant portion of this potential is currently not utilized.
The report highlights the existing lack of financial incentives for consumers to embrace these technologies. To unlock this potential, the study advocates for clearer pricing signals, improved access to flexibility markets, and more interoperable data across the e-mobility landscape.
Eurelectric secretary-general Kristian Ruby remarked, “Electric cars are enjoyable to drive. Our study indicates that they can help drivers save money while stabilizing the power system, but clear market incentives are crucial.”
Despite the growing sales of EVs, high initial costs and ambiguous policy signals continue to pose challenges, as evidenced by the decline in EV adoption in 2024. Introducing more flexibility could significantly decrease the total cost of EV ownership, potentially making EVs more affordable than conventional vehicles.
In addition to the challenges faced in EV adoption, there are also obstacles concerning EV infrastructure. Although the number of public chargers increased by 30% in 2024 to over 820,000, there is still a considerable way to go to achieve the EU’s target of 3.5 million chargers by 2030, which would necessitate the installation of 8,600 chargers each week.
Leonhard Birnbaum, CEO of E.ON and president of Eurelectric, conveyed to Power Technology during the EVision 2025 event in Brussels that while these figures appear intimidating, he remains optimistic: “In terms of the number of charging points we have deployed, every [EU] member state has surpassed its local target.
“By the end of last year, the EU had more than 850,000 public charging points. As of now (March 5), we have reached one million. We are right on track.”
Birnbaum emphasizes that while the rollout of public chargers is not alarming, the usage rates are concerning. “Utilization is currently very low. If the utilization rate is only at 15%, we might even afford to slow down [deployment] a bit,” he adds.
The CEO and president concludes, “I believe whether we achieve the target of 3.5 million [chargers by 2030] is not crucial. We [Europe] have demonstrated that we can stimulate demand once the utilization increases.