Abstract
Low carbon and renewable energy sources (RESs) are fast becoming a key sustainable instrument in meeting the global growth of electricity demand while curbing carbon emissions. For example, the gradual displacement of fossil-fuelled vehicles with electrically driven counterparts will inevitably increase both the power grid baseload and peak demand. In many developed countries, the electrification process of the transport sector has already started in tandem with the installation of multi-GW renewable energy capacity, particularly wind and solar, huge investment in power storage technology, and end-user energy demand management. The expansion of the Electric Vehicle (EV) market presents a new opportunity to create a cleaner and transformative new energy carrier. For instance, a managed EV battery charging and discharging profile in conjunction with the national grid, known as the Vehicle-to-Grid system (V2G), is projected to be an important mechanism in reducing the impact of renewable energy intermittency. This paper presents an extensive literature review of the current status of EVs and allied interface technology with the power grid. The main findings and statistical details are drawn from up-to-date publications highlighting the latest technological advancements, limitations, and potential future market development. The authors believe that electric vehicle technology will bring huge technological innovation to the energy market where the vehicle will serve both as a means of transport and a dynamic energy vector interfacing with the grid (V2G), buildings (V2B), and others (V2X).