Renault Forms Energy Services Unit

Renault SA has launched a subsidiary to help spur the development and commercialization of so-called smart grid systems.

Dubbed Renault Energy Services, the new unit will invest in companies that are developing technologies designed to optimize battery charging based on fluctuating supply and demand. This includes bi-directional chargers that allow EV owners to sell excess energy back to the grid.

The subsidiary also aims to find secondary uses for electric vehicle batteries after a hybrid or full EV has been retired. Among the potential applications is using discarded EV batteries as stationary energy storage devices for homes and other buildings.

Renault’s alliance partner, Nissan Motor Co., announced a similar initiative earlier this month. Renault and Nissan are the largest EV sellers in Europe.