Abstract
With every passing second, we witness the effect of the global environmental impact of fossil fuels and carbon emissions, to which nations across the globe respond by coming up with ambitious goals to become carbon-free and energy-efficient. At the same time, electric vehicles (EVs) are developed as a possible solution to reach this ambitious goal of making a cleaner environment and facilitating smarter transportation modes. This excellent idea of shifting towards an entirely EV-based mobility industry and economy results in a range of issues that need to be addressed. The issues range from ramping up the electricity generation for the projected increase in consumption to developing an infrastructure that is large enough to support the higher demand for electricity that arises due to the market penetration of EVs. Vehicle to grid (V2G) is a concept that is largely in a testing phase in the current scenario. However, it appears to offer a solution to the issues created by a mobility sector that the constantly growing EV fleet will dominate. Furthermore, the integration of EVs with the grid seems to offer various cost-wise and environment-wise benefits while assisting the grid by tapping into the idle energy of parked EVs during peak hours. This review aims to present some of the possible ancillary service potentials of such a system while also discussing the potential challenges, impacts, and future market penetration capabilities of V2G technology.