Octopus Energy launches innovative business model

Customers can lease a BYD Dolphin for just €350 per month – including free electricity for up to 12.000 kilometers per year. But what makes this offer truly special isn’t just the affordable leasing price – it’s the smart use of the EV battery as a mobile power storage unit, reports Business Insider.

Octopus Energy is installing special wallboxes at its own expense, which not only charge the car but can also feed energy from the vehicle’s battery back into the grid. Excess green energy from wind and solar power is temporarily stored in EV batteries and fed back into the grid when needed. This Vehicle-to-Grid (V2G) system could help balance fluctuations in the power grid and make expensive large-scale storage facilities obsolete.

Studies by the Fraunhofer Institute suggest that this technology could replace up to 92% of stationary storage systems in Europe – potentially saving €8.4 billion per year. Initial tests by RWTH Aachen University and e-mobility provider The Mobility House also confirm that frequent charging and discharging hardly affects battery range, according to the report.

Octopus Energy buys electricity on the market when prices are low, stores it in EVs, and resells it at peak demand for a profit. Customers not only get free power but also contribute to grid stability. The provider guarantees that the battery always retains enough charge for spontaneous trips.

Despite its huge potential, the model isn’t yet economically viable in Germany. High grid fees and slow rollout of smart meters – essential for V2G systems – remain obstacles. Still, this technology could become a cornerstone of the energy transition by turning millions of underutilized EV batteries into decentralized storage units.

By combining affordable mobility with sustainable energy solutions, Octopus Energy is pioneering a future where electric cars do more than just drive – they help power the grid.

MK