Participation in Vehicle-to-Grid Systems: Understanding the Role of Technology Awareness, Policy Incentives, and Personal Financial Gain

This paper investigates the key factors influencing consumers' willingness to participate in Vehicle-to-Grid (V2G) technology, focusing on the roles of technology awareness, policy incentives, and personal financial gain. Using data from 547 electric vehicle users, we conduct factor and regression analyses to explore how these factors individually and interactively affect customers' V2G participation. Our findings reveal that technology awareness significantly boosts consumer participation, as more informed users are likely to engage with V2G regardless of immediate financial rewards. Policy incentives also play a critical role, with clear and consistent government and organizational support enhancing participation rates. However, personal financial gain shows a more nuanced effect—while compensation is a motivator, excessively high expectations can deter users. Additionally, we identify that strong policy frameworks and increased awareness can reduce the need for high financial incentives, creating a more sustainable pathway for V2G adoption. Based on these findings, we propose policy recommendations aimed at improving consumer education, standardizing incentives, and better aligning financial rewards with realistic expectations to promote broader engagement with V2G technology.