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Realising Value from Electricity Markets with Local Smart Electric Thermal Storage Technology

Objective

RealValue aims to demonstrate how local small-scale energy storage, optimised with advanced ICT, could bring benefits to market participants throughout the EU. Smart Electric Thermal Storage (SETS) will be deployed in physical demonstration trials in 1250 homes in Germany, Latvia and Ireland but the analysis will also consider other storage technologies and energy vectors, including integration with district heating and micro-generation. SETS is a direct replacement for existing electric thermal storage heaters and water tanks with a combined load of 55GW across the EU. It can also replace direct electric resistance heaters with further connected load of 93GW. To validate the physical demonstrations at large scale RealValue will use modelling & virtual simulation to demonstrate the technical and commercial potential in millions of homes across representative EU regions. Thorough research studies are an integral part of RealValue and will include techno-economic and behavioural analysis that will be used to inform EU regulation and policy decision makers. RealValue will develop business models which quantify the potential of small-scale storage as an aggregated controllable load. It will provide system services or release value through price arbitrage within existing energy market structures, and highlight any barriers associated with integration into the electricity grid. The RealValue consortium is a truly cohesive partnership which has full participation and commitment from the whole energy supply chain. The consortium includes: technology developers (Glen Dimplex, Intel); energy system modelling specialists (UCD, DIW, RTU); energy market specialists (VTT); socio-economic experts (Oxford University); electricity network operators (ESBN, EirGrid) and energy utilities (MVV, SSE). RealValue is designed to accelerate innovation and develop business models necessary for small-scale storage, allowing it to form an integral part of the future EU energy landscape.

Field of science

  • /social sciences/economics and business/business and management/commerce
  • /social sciences/economics and business/business and management/business model
  • /social sciences/economics and business
  • /social sciences/sociology/governance/public services

Call for proposal

H2020-LCE-2014-3
See other projects for this call

Funding Scheme

IA - Innovation action

Coordinator

GLEN DIMPLEX HEATING & VENTILATION IRELAND UNLIMITED COMPANY
Address
Barn Road
Dunleer Louth
Ireland
Activity type
Private for-profit entities (excluding Higher or Secondary Education Establishments)
EU contribution
€ 1 575 007,01

Participants (11)

THE CHANCELLOR, MASTERS AND SCHOLARS OF THE UNIVERSITY OF OXFORD
United Kingdom
EU contribution
€ 527 092,50
Address
Wellington Square University Offices
OX1 2JD Oxford
Activity type
Higher or Secondary Education Establishments
MVV ENERGIE AG
Germany
EU contribution
€ 1 440 468,76
Address
Luisenring 49
68159 Mannheim
Activity type
Private for-profit entities (excluding Higher or Secondary Education Establishments)
EIRGRID PLC
Ireland
EU contribution
€ 113 706,25
Address
Shelbourne Road 160 Ballsbridge The Oval
4 Dublin
Activity type
Private for-profit entities (excluding Higher or Secondary Education Establishments)
TEKNOLOGIAN TUTKIMUSKESKUS VTT OY
Finland
EU contribution
€ 687 187,50
Address
Tekniikantie 21
02150 Espoo
Activity type
Research Organisations
ESB NETWORKS LTD
Ireland
EU contribution
€ 1 201 116,88
Address
Lower Mount Street Clanwilliam Place Clanwilliam House
2 Dublin
Activity type
Private for-profit entities (excluding Higher or Secondary Education Establishments)
UNIVERSITY COLLEGE DUBLIN, NATIONAL UNIVERSITY OF IRELAND, DUBLIN
Ireland
EU contribution
€ 1 180 097,50
Address
Belfield
4 Dublin
Activity type
Higher or Secondary Education Establishments
DEUTSCHES INSTITUT FUR WIRTSCHAFTSFORSCHUNG DIW (INSTITUT FUR KONJUNKTURFORSCHUNG) EV
Germany
EU contribution
€ 966 965
Address
Mohrenstrasse 58
10117 Berlin
Activity type
Research Organisations
SSE AIRTRICITY LTD
Ireland
EU contribution
€ 2 107 081,20
Address
Red Oak South South County Business Park Leopardstown
DUBLIN 18 Dublin
Activity type
Private for-profit entities (excluding Higher or Secondary Education Establishments)
INTEL RESEARCH AND DEVELOPMENT IRELAND LIMITED
Ireland
EU contribution
€ 921 197,38
Address
Collinstown Industrial Park
W23 Leixlip
Activity type
Private for-profit entities (excluding Higher or Secondary Education Establishments)
GLEN DIMPLEX DEUTSCHLAND GMBH
Germany
EU contribution
€ 635 192,25
Address
Am Goldenen Feld 18
95326 Kulmbach
Activity type
Private for-profit entities (excluding Higher or Secondary Education Establishments)
RIGAS TEHNISKA UNIVERSITATE
Latvia
EU contribution
€ 632 317,50
Address
Kalku Iela 1
1658 Riga
Activity type
Higher or Secondary Education Establishments