Few one-trick ponies exist in the digital age. As cell phones have become portable computers, other devices also have taken on multiple functions.


Electric vehicles (EVs) are no exception, and, as they gain in popularity, their utility grows, too. The value of EVs as an instrument to support the grid is catching on almost as fast as their ability to drive without gas.


In separate studies, Boulder, Colo.-based market research firm Navigant has documented the trend. A September study, “Communications Technologies for EV Charging Networks,” examines the outlook for the infrastructure, communications and support services surrounding plug-in electric vehicles (PEVs). Richelle Elberg, principal research analyst with Navigant, describes EV charging networks as “another element of the burgeoning Internet of Energy.” The study projects global revenue for this technology to exceed $709.7 million in 2024.


While communications are an essential element of this dynamic, the ability of EVs to store and return energy gives them much potential as an instrument for the grid. A second study by Navigant released in May examines the market opportunity for vehicle grid integration (VGI) technologies. “Vehicle Grid Integration” projects worldwide VGI services revenue to total $68 million over the span of 10 years from 2015 to 2024.


The study notes that, because of their storage capacity, PEVs can be used to capture renewable-electricity generation and help balance generation and demand on the grid.


According to Navigant, PEV manufacturers and utilities are in front of the trend. In an article for GreenBiz, the website for business, technology and sustainability, Navigant researcher John Gartner highlights a growing market for PEVs to support the grid. He notes that more than a dozen programs are actively testing the links between the two. His firm projects the market for these support services, mostly in the form of demand-response programs, to reach $3 billion annually in North America by 2020.