This is pretty big news.
Everyone gets focused on the production side of renewables. But demand needs to match supply. Two things are going to happen in thr next 10 years:
1: Grids around the world will be improved and strengthened to move energy more efficiently from where it is produced to where it is needed.
2: energy will be stored when it is needed and production is low.
The typical example of 2 is california duck curve when demand is highest hours after solar reaches its peak. California is fixing this by building a lot of grid storage.
But people have been speaking about using cars as storage. Now China with by far the biggest electric car market are going to have a go. This could be the future. This could be the most efficient way of balancing the grid. An ev battery should outlive a car and this provides value for an assent that isn’t being utilised fully.
I think especially when cars are old it will make sense.
Like if you think you are going to scrap a car in 3 years because the interior is so old and it’s starting to rust. Might as well just use the battery as much as possible, very little fear and risk of anything bad happening to a near valueless asset.
3 years? 💀 How long do you think the average car lasts?
A cars life is finite. At some point someone will have a car that is only going to last another 3 years.
You don’t believe people think “in 1 [or 2 or 3] years I’m going to scrap this old car and buy a new one”?