Volvo Cars Energy Solutions establishes new business unit
Rapid technological advancements are driving the adaption of electric vehicles, with South Africans set to benefit from the nation's solar potential and the expansion of a fast-charging network.
Volvo’s XC90 may even offer the option to use electric cars during power outages to supply energy to your home.
Volvo believes electric cars represent a crucial step toward a more sustainable society. Their potential extends beyond simply eliminating tailpipe emissions. For instance, did you know that stationary electric cars have the capacity to power your house, run household appliances, or even feed energy back into the grid?
Recognising the broader potential of electric cars, Volvo is introducing Volvo Cars Energy Solutions, a new business unit. This unit will offer energy storage and charging-related technologies and services, bridging the gap between Volvo vehicles, customers’ daily lives, energy efficiency, and society as a whole.
One such technology is bi-directional charging, enabling electric cars to feed excess battery power back into a compatible grid. This helps balance the grid during peak hours and reduces the reliance on fossil-generated electricity. The fully electric XC90 SUV is the first Volvo car equipped with the necessary hardware for bi-directional charging and direct solar energy storage.
Collaborating with Göteborg Energi Nät AB in Sweden, Volvo is launching one of the initial vehicle-to-grid (V2G) pilot programmes, testing V2G technologies on the local energy grid and in a residential setting with actual customers. The programme employs a cost-effective AC wallbox, aiming to accelerate the widespread adoption of the technology.
Alexander Petrofski, the new head of Volvo Cars Energy Solutions, explains that bi-directional charging enables users to utilise their car’s battery as an additional energy source for their home, electric devices, or even another electric Volvo car. The goal is to expand this feature across Sweden and encourage broader acceptance of similar charging and energy storage services across Europe.
Volvo’s engineers estimate the combined battery capacity of its electric vehicle fleet will reach approximately 50GWh by the middle of the decade. By leveraging smart charging, this flexible energy consumption can be optimised for sustainability and cost-effectiveness. Petrofski highlights that building an energy ecosystem around electric vehicles and their batteries enables savings and reduced CO2 emissions while benefiting energy firms by lowering grid investments and environmental impact.
Over time, Volvo Cars Energy Solutions is expected to generate significant annual revenue from energy-related products and services. This addition will enhance Volvo’s core business, improve customers’ daily lives, and benefit the environment.
Source: Nikki Chennells
