Electric cars are already cheap to run and that price could soon drop even further under a new UK ‘vehicle to grid’ scheme.

Energy supplier Ovo will pay drivers of Nissan’s Leaf for use of the car’s battery from next year.

For many users, the money could be enough to cover the £400 ($530) estimated annual cost of charging the vehicle.
Customers who take up the scheme, available from January 2018, will need a special charger installed in their homes.

This will allow Ovo to manage the Nissan Leaf’s charging and battery levels.

Users will be able to specify how much charge they need for the next time they take the car out.

Ovo will then be able to drain power from the battery for use by the grid during peak times, when costs are higher, before replacing it in off-peak hours.

This benefits the firm, by allowing them to sell cheap energy at up to four times the price, as well as the customer who can save a predicted average of £240 ($320) a year off their bill, according to The Daily Mail.

In a written statement Stephen Fitzpatrick, Ovo CEO, said: ‘Electric vehicles are fast becoming a mainstream option for drivers and solve many of the challenges facing our cities.

‘We believe that they have an integral part to play in the twenty-first century power grid and accelerating decarbonisation and mobility.

‘We’re delighted that we can now offer such a compelling incentive to customers who are generating their own clean power, providing a truly sustainable alternative to the traditional energy model.’

Vehicle to grid (V2G) technology allows electric vehicles to be fully integrated into the electricity grid.