- SK rent-a-car will demonstrate the possibility of utilizing EV (Electric Vehicle) as ESS (Energy Storage System) in collaboration with Korea Electric Power Research Institute
- Ten ‘IONIC 5’ units and ten V2G chargers will be used for this demonstration project at SK rent-a-car’s Jeju branch by the end of this year, followed by the installation of additional 170 V2G chargers for the expansion into a pilot business
- “We continue to work with KEPCO to find ways of creating a variety of values, capitalizing on EVs, thereby driving the eco-friendly mobility market”

SK rent-a-car has been at the forefront of raising customer value, capitalizing on eco-friendly vehicles in Jeju, the most famous tourist destination in Korea. As part of this, the company plans to run a demonstration project that utilizes EVs (Electric Vehicle) as ESS (Energy Storage System).

SK rent-a-car (CEO: Hwang Il-moon) made an announcement on the 30th that it signed an agreement with Korea Electric Power Research Institute on Vehicle to Grid (hereinafter, V2G) project which aims to redress the imbalance between power supply and demand by utilizing EVs as ESS.

Both parties have selected Jeju Island as the place where they are going to run this demonstration project. Declaring its vision, ‘Carbon Free Island (CFI),’ in 2012, and Jeju has actively implemented its policies for carbon neutrality. And the island plans to transition its energy sources to 100% renewable energy ones, such as wind or solar, for power generation by 2030.

As of now, Jeju boasts the highest usage rate of renewable energy. However, renewable energy has the disadvantage of being available for electricity generation only for a specific time slot, which leads to the imbalance between power demand and supply. Especially, ‘Shut Down’, which refers to putting a generator on pause due to the oversupply of electricity, remains an unsolved issue.

In accordance with the agreement, SK rent-a-car and the Power Research Institute will verify V2G technology that utilizes EVs as ESS to use them as dispersion energy sources.

In detail, SK rent-a-car plans to utilize ten Hyundai ‘IONIC 5’ vehicles operated at Jeju branch for this demonstration project, and also create a space dedicated to the demonstration of V2G technology within the branch. In the meantime, the institute will install ten V2G chargers for the project and demonstrate the relevant technologies and system.

The V2G chargers that will be installed at Jeju branch are slow chargers. And one unit has a capacity of charging 7kW and discharging 5kW per hour. It means that it is possible to charge 70kW and discharge 50kW per hour through the installation of ten chargers. The operation of the ten units for eight hours a day makes it possible to store up to 16,800kWh in EVs for a month, which is equivalent to the electricity consumed by about 34 four-person households for a month. (※ Based on the average monthly power consumption of 350kWh for a four-person household)

Going forward, SK rent-car is going to adopt additional 170 V2G chargers in partnership with Korea Electric Power Corporation (KEPCO). Following the demonstration project and pilot business, the operation of multiple EVs and V2G chargers at Jeju Branch is expected to play a role as VPP (Virtual Power Plant), which, in turn, will contribute to the stabilization of the power supply in Jeju.

An SK rent-a-car official said, “this agreement means a lot since it makes it possible to respond to the imbalance between power supply and demand in a flexible manner, taking advantage of eco-friendly EVs.” And he added, “we continue to work with KEPCO to find ways of creating a wide range of social and customer values, thereby driving the earth-friendly mobility market.

Last April, SK rent-a-car announced its plan to create the largest-scale EV park at Jeju branch by 2025 following the signing of the agreement with KEPCO. The company plans to switch its all 3,000 vehicles to EVs while KEPCO installs a charging facility with the capacity of 7,200kW. As of now, the Jeju branch of the company operates a variety of in-demand EV models, including Hyundai IONIC 5, Kia EV6, and Tesla Model 3. Last June, it launched a short-term rental plan for ‘Polestar 2’, a premium Swedish EV model with high performance.

[Photo 1] SK rent-a-car is taking a photo with Korea Electric Power Research Institute at Samil Building, located in Jongno-gu, Seoul. (From the left) Kim Jin-sik, head of Online Platform Division of SK rent-a-car, Lee Jung-ho, President of Korea Electric Power Research Institute

[Photo 2] SK rent-a-car is taking a photo with Korea Electric Power Research Institute at Samil Building, located in Jongno-gu, Seoul. (From the third on the left) Kim Hyun-su, head of Mobility BM Division, Kim Jin-sik, head of Online Platform Division of SK rent-a-car, Lee Jung-ho, President of Korea Electric Power Research Institute, Lee Hak-ju, head of New Business Research Department of Korea Electric Power Research Institute