Renault Energy Services to specialize in energy and electric mobility
Groupe Renault has announced the creation of Renault Energy Services. The aim of this new subsidiary is to have an active presence in the energy and smart grid sector.
The objective of Renault Energy Services is to invest in smart grid-related projects by forging ties with the energy industry’s stakeholders. The company will focus chiefly on the development of smart charging, vehicle-to-grid interaction, and second-life batteries.
Gilles Normand, SVP, Electric Vehicles, Renault, said, “The creation of Renault Energy Services marks an important step forward. Investing in smart grids is key to both reinforcing the lead we enjoy in the European electric vehicle market and accelerating the EV industry’s scale-up.”
The subsidiary will aid in the expansion of smart charging networks which, by facilitating the communication of data, can make real-time adjustments to the supply of electricity for more efficient management of resources. Renault electric vehicles connected to smart grids will benefit from more economical, lower-carbon electricity. In addition to permitting the development of smart charging, smart grids favor both interaction between electric vehicles and networks (vehicle to grid) and projects involving second-life batteries.
Smart charging adjusts battery charging rates as a function of customers’ needs and the availability of electricity via the grid. Batteries are charged when supply exceeds demand, primarily during renewable energy production peaks and when rates are at their cheapest.
In vehicle-to-grid systems, electric vehicles provide electricity to the grid during peak hours. In this way, not only do they benefit from the advantages of smart charging but they also serve as a means to temporarily store energy.
Even once their life as a power source for electric vehicles is over, EV batteries continue to be capable of storing a significant amount of energy. This energy can be harnessed for stationary energy storage, for applications such as homes, office buildings, factories, and even charging of EVs.