Smart charging, sometimes called V1G, refers to the ability to dynamically modify the charge rate or the charge time. This can help minimize the cost of charging a vehicle if a rate schedule is based on time of use (TOU), such as middle of the night versus peak demand hours.
Vehicle-to-grid (V2G) refers to bidirectional energy flow between an electric vehicle’s battery and the charging station. Energy can be transferred to a building (vehicle-to-building or V2B) the charging station is connected to in order to manage energy costs, or can be sent to the grid (V2G) to earn revenue on energy markets. Similarly, if the building possesses excess energy from solar panels, this energy may be stored in the electric vehicle and re-used at a later time.
See the matrix below for reference.