The Power Pack Bundle was unveiled today at Octopus Energy's Energy Tech Summit. Priced at under £300 a month, it includes a leased V2G-ready BYD Dolphin, a bi-directional Zaptec Pro charger and access to a smart tariff offering completely free home charging.
With complimentary charging, typical EV drivers could see their annual bills reduced by £620 compared to charging on a standard tariff.
V2G technology turns EVs into 'batteries on wheels', enabling them to charge when electricity is cheap and feed it back to the grid during peak times when electricity is costly. This reduces the grid's dependence on polluting fossil fuel plants, without compromising the car's primary function of transportation.
The Power Pack Bundle, powered by Octopus Energy Group's tech platform, Kraken, makes these savings effortless for customers. Drivers plug in overnight and let the technology handle the rest.
The fully automated process guarantees free home charging for every mile driven during the lease.
For the first time, Vehicle-to-Grid (V2G) technology is being integrated directly into vehicles, thereby removing the need for expensive external V2G chargers. This innovation could transform hundreds of thousands of electric vehicles (EVs) into miniature power stations on wheels.
Octopus Energy Group, having ventured into the electric vehicle sector with Octopus Electric Vehicles in 2021, is well-positioned to capitalise on this by leasing out these advanced cars. Their EV-only leasing arm has quickly become the leading business of its kind in the UK.
Additionally, Octopus has joined forces with both BYD and Motability Operations, Britain's premier leasing firm, to extend the benefits of V2G technology to people with disabilities nationwide, promoting cost-effective and accessible electric motoring.
The founder of Octopus Energy Group, Greg Jackson, commented: "Bi-directional charging is the game-changer for drivers and the grid. By using some of the battery's spare capacity to help balance the grid, we can offer free driving. V2G is going to revolutionise our energy system and help drive costs down."
Simon Smith, Chief Commercial Officer, InstaVolt: “Deals like this from Octopus are clearly designed to help everyone reap the benefits of electric vehicles. The more EVs there are on the UK roads the better not only for the growth economies of the future, but also clean air for all.”
Ginny Buckley, the chief executive of Electrifying, the electric car buying and advice site said: “In a survey of over 11,000 UK drivers conducted by Electrifying.com, 61% told us they didn’t believe the National Grid would cope if we all switched to electric cars.
“The reality couldn’t be further from the truth. Electric cars will play a crucial role in balancing the grid — and reducing electricity bills — through their ability to act as a giant power bank.
“This news from Octopus Energy and BYD is the first of what we expect to be a wave of offers enabling EV owners to take advantage of smart vehicle-to-grid technology and make substantial savings. At the same time, they’ll be helping the grid adapt to the peaks and troughs in demand.”
We use your sign-up to provide content in ways you've consented to and to improve our understanding of you. This may include adverts from us and 3rd parties based on our understanding. You can unsubscribe at any time. Read our Privacy Policy
Dan Caesar, CEO, EVUK said: “Octopus and BYD’s ingenious bidirectional tie up - an EV, plus charging and V2G in an affordable bundle - is the perfect example of how the electric vehicle offering will become increasingly irresistible over the coming months and years. As demonstrated in EVUK’s recent Cost of Driving Electric report, EVs are already cheaper and payment plans that potentially reduce charging costs to nothing, make them all the more appealing.”
Facebook Conversations