Families could save 'hundreds of pounds on energy bills' by using electricity stored in their EVs to power home appliances, the Government has said.

Bi-directional charging allows electricity stored in an electric vehicle's battery to flow back into the grid or into a home and workplace. EV owners could take advantage of charging their EV when electricity costs are at their lowest, and then use that electricity to power their home when energy costs are highest. 

Meanwhile, the tech could also allow companies to charge up their fleets of EVs and then power their operations and slash costs, particularly if they are using solar panels.

The Government said it is awarding four projects £4.8 million to develop and implement 'Vehicle-to-Everything' (V2X) technologies. The successful companies are Hangar19, 3ti Energy Hub, Otaski Energy Solutions and Electric Green Limited.

Minister for Affordability and Skills Amanda Solloway said: "The prospect of families being able to store energy on their doorstep in electric vehicles and use it to power their homes is incredibly exciting. This is exactly the sort of ingenuity and creativity that makes the UK one of the world’s most innovative nations.

"By backing this technology, we could save families hundreds of pounds a year, while also supporting jobs, investment and growth." 

Anthony Browne, Transport Minister for Technology and Decarbonisation, added: "We’re continuing to support drivers, and this innovative new development is the next step in levelling-up our charging technology, which will benefit many households across the country.

"This government has already spent over £2 billion in the transition to electric vehicles and our charging network is growing at pace, with 44% more public chargepoints than this time last year, meaning drivers can charge more easily than before."

Carmakers are also working hard on the technology, with Renault already confirming its upcoming 5 electric hatchback will come with a vehicle-to-grid charging system.

New Renault 5 will come with V2X technology