Approval of PARITY H2020 project
Published on Friday, 31 May 2019 - 15:05
On Wednesday, 8th 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.