Researchers at the National Renewable Energy Laboratory (NREL) in Golden, Colorado recently found that EV batteries retain about 70% of their initial capacity after being used in an electric vehicle. This has great implications for offsetting EV expenses and improving energy grid stability. On average, the Li-on battery in a PEV is expected to last about 15 years. After it cannot hold enough energy for the vehicle, the battery can be sold to a utility company for energy storage. This could provide EV owners with a credit of up to $1,000!
This method of energy storage is especially valuable for renewable energy sources which produce electricity in off-peak hours, like wind and geothermal power. Reusing EV batteries this way can extend their lifespan 10 years, when finally they are recycled for the raw materials.