Periodic Reporting for period 1 - DE-RISK (DE-RISK the adoption of Local Flexibility Markets to unlock the safe and reliable mass deployment of Renewable Energy Systems)
Reporting period: 2022-10-01 to 2024-03-31
The EU-funded DE-RISK project, with a duration of 3-years, aims to facilitate the widespread adoption of LFMs to support a safe and reliable integration of RES into the electric grid. DE-RISK targets the untapped potential of LFMs in the distribution grid, where residential and tertiary buildings represent 70% of Demand Response (DR) potential, by minimizing the investments and implementation risk.
The project aims to de-risk the adoption of LFMs by addressing several key objectives:
• Boosting End-User Participation: Through innovative behavioral analysis, DE-RISK will understand and meet end-users' needs, increasing their trust and encouraging their active involvement in LFMs.
• Deploying Digital Twins: A low-cost automated platform will be used to assess and unlock flexibility potential in four case studies across diverse EU regions.
• Regulatory Bridging and Roadmapping: The project will navigate different regulatory frameworks to support LFM adoption and develop strategic roadmaps.
• Innovative Business Models and Financing: Sustainable business models and financing mechanisms, such as crowdfunding and peer-to-peer lending, will be developed to minimize investment risks and ensure long-term viability.
DE-RISK will use digital twins for buildings, citizens, and grids to bridge the gap between simulation and real implementation, mitigating technical risks. Additionally, it will develop innovative business models to ensure fairness and sustainability, and create regulatory recommendations for clear and transparent LFM adoption.
DE-RISK is structured in six WPs:
WP1: PM and Coordination
WP2: Consumer Journey in the Local Flexibility Market
WP3: Regulatory, Policy, Financial state of the art analysis
WP4: Case study preparation, implementation and validation
WP5: Local Flexibility business models, exploitation and replication
WP6: Wide and high impact Communication, Dissemination and market engagement
The project aims to de-risk the adoption of LFMs by addressing several key objectives:
• Boosting End-User Participation: Through innovative behavioral analysis, DE-RISK will understand and meet end-users' needs, increasing their trust and encouraging their active involvement in LFMs.
• Deploying Digital Twins: A low-cost automated platform will be used to assess and unlock flexibility potential in four case studies across diverse EU regions.
• Regulatory Bridging and Roadmapping: The project will navigate different regulatory frameworks to support LFM adoption and develop strategic roadmaps.
• Innovative Business Models and Financing: Sustainable business models and financing mechanisms, such as crowdfunding and peer-to-peer lending, will be developed to minimize investment risks and ensure long-term viability.
DE-RISK will use digital twins for buildings, citizens, and grids to bridge the gap between simulation and real implementation, mitigating technical risks. Additionally, it will develop innovative business models to ensure fairness and sustainability, and create regulatory recommendations for clear and transparent LFM adoption.
DE-RISK is structured in six WPs:
WP1: PM and Coordination
WP2: Consumer Journey in the Local Flexibility Market
WP3: Regulatory, Policy, Financial state of the art analysis
WP4: Case study preparation, implementation and validation
WP5: Local Flexibility business models, exploitation and replication
WP6: Wide and high impact Communication, Dissemination and market engagement
WP1: The PM handbook (D1.1) Data Management Plan (D1.3) and Project Management Plan (D1.4) were submitted. Following Gridpocket’s partnership termination due to liquidity issues, roles were reassigned among partners to ensure continuity, with new administrative and financial documents prepared.
WP2:
Task 2.1: Conducted a comprehensive literature review and interviews to develop a consumer behavior model for LFMs.
Task 2.2: Collected and analyzed 2000 consumer survey responses across five countries, developing strategies for consumer engagement in LFMs.
Task 2.3: Analyzed the 4Es behavior change model, identifying consumer profiles and engagement methods, and provided recommendations for dashboard development.
Lastly, a research model was developed to identify motivators for consumer adoption of smart home devices, renewable energy sources, and electric cars, providing recommendations for dashboard development.
Deliverables D2.1 D2.2 and D2.3 were submitted.
WP3:
Task 3.1: A PESTLE analysis and benchmarking of LFM implementations in ten European and three benchmarking countries, focusing on political, economic, social, technological, legal, and environmental conditions.
Task 3.2: Regulatory Impact Analysis (RIA) to understand the regulatory environment and enhance LFM development.
Task 3.3: Analysis of existing and innovative energy services, identifying barriers and providing policy recommendations.
Task 3.4: Overview of financing options for LFMs, identifying barriers and outlining various financial mechanisms like consumer finance loans, crowdfunding, and public subsidies.
Deliverables D3.1 D3.2 and D3.3 were submitted.
WP4:
Task 4.1: Pilot case studies characterized and data collection plans devised, with solutions implemented for infrastructure gaps.
Task 4.2: Development of digital twins and simulation scenarios for optimizing self-consumption and minimizing electricity bills.
Task 4.3: Local customer engagement initiated with workshops planned, and stakeholder mapping studies conducted.
Deliverables D4.1 and D4.2 were submitted.
WP5:
Task 5.1: Comprehensive Market & Stakeholder analysis for LFMs across diverse countries, resulting in valuable insights into LFM dynamics.
Task 5.2: Identification and assessment of exploitable results within the DE-RISK project, outlining eight ERs and setting the basis for exploitation roadmapping.
Deliverables D5.1 and D5.2 were submitted.
WP6: The project website (deriskproject.eu) was activated, providing well-structured and regularly maintained information. Deliverables D6.1 D6.2 and D6.4 were submitted, covering communication and dissemination plan, project identity, and interaction toolboxes for consumers and professionals.
WP2:
Task 2.1: Conducted a comprehensive literature review and interviews to develop a consumer behavior model for LFMs.
Task 2.2: Collected and analyzed 2000 consumer survey responses across five countries, developing strategies for consumer engagement in LFMs.
Task 2.3: Analyzed the 4Es behavior change model, identifying consumer profiles and engagement methods, and provided recommendations for dashboard development.
Lastly, a research model was developed to identify motivators for consumer adoption of smart home devices, renewable energy sources, and electric cars, providing recommendations for dashboard development.
Deliverables D2.1 D2.2 and D2.3 were submitted.
WP3:
Task 3.1: A PESTLE analysis and benchmarking of LFM implementations in ten European and three benchmarking countries, focusing on political, economic, social, technological, legal, and environmental conditions.
Task 3.2: Regulatory Impact Analysis (RIA) to understand the regulatory environment and enhance LFM development.
Task 3.3: Analysis of existing and innovative energy services, identifying barriers and providing policy recommendations.
Task 3.4: Overview of financing options for LFMs, identifying barriers and outlining various financial mechanisms like consumer finance loans, crowdfunding, and public subsidies.
Deliverables D3.1 D3.2 and D3.3 were submitted.
WP4:
Task 4.1: Pilot case studies characterized and data collection plans devised, with solutions implemented for infrastructure gaps.
Task 4.2: Development of digital twins and simulation scenarios for optimizing self-consumption and minimizing electricity bills.
Task 4.3: Local customer engagement initiated with workshops planned, and stakeholder mapping studies conducted.
Deliverables D4.1 and D4.2 were submitted.
WP5:
Task 5.1: Comprehensive Market & Stakeholder analysis for LFMs across diverse countries, resulting in valuable insights into LFM dynamics.
Task 5.2: Identification and assessment of exploitable results within the DE-RISK project, outlining eight ERs and setting the basis for exploitation roadmapping.
Deliverables D5.1 and D5.2 were submitted.
WP6: The project website (deriskproject.eu) was activated, providing well-structured and regularly maintained information. Deliverables D6.1 D6.2 and D6.4 were submitted, covering communication and dissemination plan, project identity, and interaction toolboxes for consumers and professionals.
DE-RISK aims to enhance the flexibility of the EU's distribution grid, unlocking up to 100 GW of flexibility by 2030 to increase the hosting capacity of renewable energy sources by 25%. The project provides policy and regulatory recommendations for ten EU countries, supporting the market uptake of renewable energy systems (RES) and local flexibility markets (LFMs). A digital twin aggregation platform, paired with a multi-sided business model and innovative financial schemes, will facilitate the integration of RES. DE-RISK also focuses on increasing user participation by 50% through customer behavior change strategies. The project's multidisciplinary approach covers social acceptance, technology, business, and regulatory aspects, ensuring comprehensive and effective outcomes. DE-RISK's consortium includes a full value chain of end-users, technology providers, consultants, and research organizations, aiming for seamless market integration and scalability. Dissemination activities involve engaging a stakeholder community of over 200 members for targeted outreach, fostering early adoption and broad impact. Watch and IPR activities ensure strong market positioning for project results, promoting sector awareness, technology, and patent scouting for effective market entry.