Honda has already taken the first step in helping this vision become a reality with the development of the Power Manager unit. This form of energy storage will have a significant role to play in the evolution of the energy market. If stored effectively, energy stored in electric vehicle batteries could be transferred between the grid, homes and back to electric vehicles when needed. The rising uptake of electric vehicles will enable new energy storage possibilities through Vehicle-to-Grid (V2G) systems, which could be used to balance power demand across the grid. Renewable energy generation in the UK is increasing, but at present most surplus power that is generated cannot be stored. The current project, which will run from 2018 to 2021, aims to establish realistic business models to support the growth of the electric vehicle market and break new ground in helping consumers, businesses and infrastructure providers benefit financially from energy storage in electric vehicles. The project aims to demonstrate the business case for Vehicle-to-Grid (V2G) technologies across a variety of UK locations, to help businesses and electric car owners recognise how they can harness, store and use surplus renewable energy with a commercial benefit.ĮV-elocity has attracted significant investment from UK government and has successfully secured £7 million of funding from Innovate UK. Honda Motor Europe has announced it will supply its state-of-the-art Power Manager units as part of the EV-elocity consortium project in the UK. EV-elocity project has secured £7 million of funding.Project will demonstrate benefits of smart energy storage for businesses and electric car owners with Honda’s Power Manager units.Honda has joined UK-led energy management consortium EV-elocity.