V2G standards update

Standards Update:
- Revisions to Australian Standards AS4777.1 and AS4777.2, relating to inverters and bi-directional chargers, will simplify and reduce the cost of using EVs to power homes and feed electricity back to the grid.
- The updated AS4777.1 is expected in Q3 2024, with AS4777.2 following by the end of the year.
Increased Accessibility:
- The new standards will make it easier and more affordable for homeowners to use EVs in conjunction with solar power to recharge their vehicles and power their homes.
- Bi-directional chargers currently approved only in certain regions will become more widely available and affordable, dropping in price to around $6,000-$7,000 within three years, and potentially below $5,000 later.
Market Impact:
- The changes will attract global hardware manufacturers to the Australian market, increasing the availability of bi-directional chargers compatible with the widely used CCS2 charging plug.
- Vehicles that offer V2G compatibility in Australia include the Nissan LEAF and LEAF+ electric hatchbacks and Mitsubishi Eclipse Cross and Outlander PHEV SUVs.
- This will encourage more car manufacturers, such as BMW, Ford, and Renault, to introduce V2G-compatible vehicles in Australia.