PARITY – Pro-sumer AwaRe, Transactive Markets for Valorization of Distributed flexibilITY enabled by Smart Energy Contracts
PARITY will go beyond the traditional “top-down” grid management practices by delivering a unique local flexibility market (LFM) platform through the seamless integration of Internet of Things (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.
Secondly, by deploying State-of-the-Art IoT technologies PARITY will offer distributed intelligence (DER profiling) and selflearning/self-organization capabilities (automated real-time distributed control), orchestrated by the cost-reflective flexibility market signals generated by the blockchain market platform. Within PARITY, DERs will form dynamic clusters that essentially comprise self-organized networks of active DER nodes that will efficiently distribute and balance global and local intelligence, enabling real-time aggregated & P2P transactions through enhanced forecasting, optimization and control of DER flexibility.
Finally, the PARITY solution includes novel tools for Active Network Management, including an innovative STATCOM and Power Quality (PQ) monitoring device, that will enable the Distribution System Operator (DSO) to enhance its management capabilities, grid observability and RES hosting capacity.
The PARITY solution will be demonstrated in 4 pilot sites around the EU (Spain, Greece, Sweden & Switzerland) to validate its effectiveness across climatic, cultural and techno-regulatory conditions.
- DER Flexibility Ecosystem seamlessly integrating Heterogeneous DER within a Unified Flexibility Management Framework, Activitely Participating in Smart Grid Operations.
- Storage-as-a-Service framework efficiently combining Actual Storage (EVs and batteries) and Virtual Energy Storage (Power-to-Heat).
- Smart Contracts Enabled Local Flexibility Market Platform that facilitates the transition to enhanced Transactive Flexibility Systems through Distributed Intelligence and Integrated Market Based Control.
- Smart Grid (SG) Monitoring, Power Quality (PQ) Management and Active network management.
- Holistic Assessment of Novel Business Models and Validation in Real-Life environments to ensure wide Market Actor Engagement in the PARITY Local Flexibility Market Platform.
- Promote the adoption of the PARITY solution as a next-generation Local Flexibility Market Platform through intense dissemination and knowledge transfer of the project’s outcomes towards the targeted stakeholders, reaching out to international audiences within and beyond the EU
- CIRCE is the Leader of WP6. It will actively participate in the Spanish Pilot Case by means of developing both forecasting and control algorithms for the improvement of the grid flexibility and will deploy the STATCOM hardware for the improvement of the grid stability.
- The role of CIRCE covers the entire smart grid pillar of the project in terms of research and tools, focused on achieving and increment of the observability and control of the grid, as well as the creation of new market mechanisms towards the increment of the grid flexibility, and will be involved in the development of smart grid management tools (e.g. grid observability, control)