Electric vehicles can also do this to save consumers money.

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*** SINGLE USE *** Battery stack powered by Proterra

Courtesy of Proterra

Today’s electric vehicles can do more than just provide transportation services to individuals and businesses. These can be mobile power banks.

VE technology company

(ticker: PTRA) announced Wednesday that a Massachusetts electric school bus has been feeding electricity back to the grid for more than 50 hours this summer.

The company said its bus had offloaded nearly three megawatt hours of electricity to the regional power grid during 30 events this summer. The average American home uses about 11 megawatt hours per year.

It’s an impressive achievement, but investors might wonder why is it important? The answer, of course, is to follow the money.

Using large battery packs in commercial electric vehicles, such as school buses, can help lower utility bills. Electric vehicles can return electricity to the grid or to a business when electricity prices are high. Then they can reverse the direction of the electrons and recharge when the demand for electricity and prices are low.

This type of application is also, for the most part, a game of improving the use of assets. Buses can take children in the morning and afternoon. They can restore electricity to the grid in the middle of the day and on weekends.

“If you can use these types of assets as stored energy that can be fed back into the grid and reduce the demand for fossil fuel production during peaks [electricity demand] periods, it’s a win-win for the company, ”said Gareth Joyce, president of Proterra. that of Barron. It is “a great example of how we can use energy more efficiently.”

Joyce also sees benefits in switching to public transportation options that don’t burn gasoline or diesel fuel.

His company, Proterra, can be called an EV technology company. It can provide battery packs and management systems to commercial vehicle manufacturers looking to electrify their product offerings. It sells its own electric transit buses. Proterra also sells fleet charging solutions for commercial vehicle operators. The company does not manufacture battery cells, but sells battery packs in addition to manufacturing commercial electric vehicles.

Proterra gets its battery cells from

LG Chem
(051910 Korea) as part of a long-term supply agreement.

Proterra is not the only company to offer these types of uninterruptible power features. The

Ford engine
(F) The all-electric F-150 Lightning can also power a home and help reduce electricity costs.

Proterra shares are not trading much in pre-market hours Wednesday yet. However, stocks have struggled lately. The stock has fallen about 34% in the past three months. This is not a problem specific to Proterra. This has been a risk for many stocks related to small-cap EVs.


Lordstown Engines

(GOEV) and

Stocks (FSRs), for example, fell by 51%, 42%, 24% and 18% respectively over the same period.


S&P 500


Dow Jones Industrial Average

are down about 1% and 2%, respectively, over the past three months.

Wall Street still sees an opportunity. Four of the six analysts covering the Proterra Buy stock rate. The average analyst price target is around $ 15.50, up nearly 70% from recent levels of $ 9.16.

Write to Al Root at [email protected]

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