PARITY
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Description and objectives
PARITY addresses the “structural inertia” of existing distribution grids by delivering a transitional grid and market framework that will increase grid durability and efficiency and facilitate the penetration of Renewable Energy Sources (RES) beyond 50% of the generation mix on the distribution grid.
PARITY will go beyond traditional “top-down” grid management practices by offering a unique Local Flexibility Market (LFM) platform through the seamless integration of Internet of Things (IoT) and blockchain technologies.
By offering a marketplace for automated flexibility exchange based on smart contracts and blockchain, PARITY will facilitate efficient and transparent local flexibility transactions and reward flexibility in a symmetric and cost-reflective manner through price signals of increased spatio-temporal granularity based on real-time grid operational constraints and available Distributed Energy Resources (DER) flexibility.
Second, by deploying state-of-the-art IoT technologies, PARITY will offer distributed intelligence (DER profiling) and self-learning/self-organizing capabilities (real-time automated 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-organizing networks of active DER nodes that will efficiently distribute and balance global and local intelligence, enabling real-time aggregated and P2P transactions through improved forecasting, optimization and control of DER flexibility.
Finally, the PARITY solution includes novel tools for Active Grid Management, including an innovative STATCOM and Power Quality (PQ) monitoring device, which will enable the Distribution System Operator (DSO) to improve its management capabilities, grid observability and RES hosting capacity.
Value proposition
The PARITY solution will be demonstrated in 4 pilot sites across the EU (Spain, Greece, Sweden and Switzerland) to validate its effectiveness under climatic, cultural and techno-regulatory conditions:
- DER Flexibility Ecosystem seamlessly integrating Heterogeneous DER within a Unified Flexibility Management Framework, actively participating in Smart Grid operations.
- Storage-as-a-Service Framework efficiently combining Real Storage (EVs and batteries) and Virtual Energy Storage (Power-to-Heat).
- Smart contracts enabled a local flexibility market platform that facilitates the transition to enhanced transactional flexibility systems through distributed intelligence and integrated market-based control.
- Smart Grid Monitoring (SG), Power Quality (PQ) Management and Active Grid Management.
- Holistic Evaluation of New Business Models and Validation in real-life environments to ensure broad participation of market players in PARITY's Local Flexibility Market Platform.
- Promote the adoption of the PARITY solution as a next generation Local Flexibility Market Platform through intensive dissemination and knowledge transfer of project results to target stakeholders, reaching international audiences inside and outside the EU.
Project partners
CERT, CIRCE, MERIT CONSULTING HOUSE, CUERVA, URBENER, UNIVERSITY OF NICOSIA, HYPERTECH ENERGY LABS, BFS, HEDNO, CHECKWATT, E-ON, AEM, SUPSI, HIVE POWER, ENERGY INNOVATION ENGINEERING, QUE TECHNOLOGIES, DEUSTO, TURNIG TABLES