On Wednesday, 8^th May, DeustoTech-Societal Challenges was notified about the approval of a new H2020 project in the call “H2020-LC-SC3-2019” (Topic: ES-1 Flexibility and retail market options for the distribution grid). The project title is “PARITY: Pro-sumer AwaRe, Transactive Markets for Valorization of Distributed flexibilITY enabled by Smart Energy Contracts”.

It is a 42-month project that will increase the durability and efficiency of the electrical grid and facilitate the penetration of Renewable Energy sources (RES) beyond 50% of the generation mix in the distribution network.

PARITY will go beyond the traditional “top-down” grid management practices by delivering a unique local flexibility market platform through the seamless integration of IoT and blockchain technologies. By delivering a market for automated flexibility exchange based on smart contracts & blockchain, PARITY will facilitate efficient and transparent local flexibility transactions and reward flexibility in a cost reflective and symmetric manner, through price signals of higher spatio-temporal granularity based on real-time grid operational constraints and available Distributed Energy Resources (DER) flexibility. The PARITY solution will be demonstrated in 4 pilot sites around the EU (ES, CH, SE & ES) to validate its effectiveness across climatic, cultural and techno-regulatory conditions.

In this new project, Dr. Diego Casado Mansilla and Dr. Diego López-de-Ipiña from DeustoTech-Societal Challenges and Dr. Cruz Borges from DeustoTech-ENERGY&ENVIRONMENT took part in the proposal preparation. Our groups will cooperate for providing a thorough Analysis of obstacles to Innovation under current & future regulatory & socio-economic context for Local Flexibility Market (LFM) proliferation.