$HLRTF with the global electric vehicle population set to swell to between 140 and 240 million electric battery-powered vehicles by 2030 means we will have at least 140 million energy storage devices on wheels with an aggregated storage capacity of 7TWh (terawatt hours) on the road over the course of the next decade (https://ibn.fm/QtuHz). To put that into perspective, a global electric vehicle fleet of 140 million vehicles would effectively be able to power the United States' annual electricity consumption twice over on a single charge. By some estimates, it could lead electricity consumption to rise by as much as 38 percent within the U.S. by 2050, a phenomenon that has thrust the vehicle-to-grid technology sector into the global spotlight.

Vehicle-to-grid technology enables energy to be pushed back to the power grid from the battery of an electric car; with electric vehicle-to-grid technology - also known as car-to-grid - a car battery can be charged and discharged based on different signals, such as energy production or consumption nearby. With the global vehicle-to-grid technology market size forecast to grow from a value of $1.77 billion in 2022 to approximately $17.43 billion by 2027, a CAGR of more than 48 percent over the period in question, Hillcrest Energy Technologies (CSE: HEAT) (OTCQB: HLRTF), a clean technology company developing transformative power conversion technologies has sought to introduce its proprietary solution into the mix.