Objective
Photovoltaic (PV) electricity microgeneration is becoming an increasingly profitable solution, because electricity costs for consumers are expected to rise and the PV panel prices to fall.
However, in the residential market, there is a time-shift (i.e. the duck curve) between the electricity consumption curve and the PV electricity production, with largest consumption in the morning and evening, while most PV production is during daytime. Currently, these differences are managed in the following way: during the day, excess PV electricity production is fed into the utility grid, and the producer receives a payment based on the Feed-in Tariff. At night, electricity consumption is maintained by the utility grid at normal costs. In the past decade, this system was supported by attractively high Feed-in Tariffs. However, due to very large number of PV installations the Feed-in costs for utility grids have grown exponentially and new payment models have now much lower or even zero Feed-in Tariffs for microgeneration in residential buildings, in most EU countries. Thus, there is now an economical incentive for electricity storage.
With this innovation project, we aim to pave the way for market introduction of the most cost-effective solution for storage of locally produced PV energy at residential buildings. To reach this goal, VisBlue is developing a storage system based on Vanadium Redox Flow Batteries. The ultimate value proposition for end-users is the lowest cost in terms of EUR/kWh/cycle on the market, ensuring as low as 9 years of payback time, which is significantly lower than any of the competing solutions.
Furthermore, the successful implementation of the innovation project is expected to boost the company’s growth, placing VisBlue in a strong position to generate around €25.6 million in revenue and a profit of €8.6 million over five years’ post-project.
Fields of science (EuroSciVoc)
CORDIS classifies projects with EuroSciVoc, a multilingual taxonomy of fields of science, through a semi-automatic process based on NLP techniques. See: The European Science Vocabulary.
CORDIS classifies projects with EuroSciVoc, a multilingual taxonomy of fields of science, through a semi-automatic process based on NLP techniques. See: The European Science Vocabulary.
- natural sciences chemical sciences electrochemistry electric batteries
- engineering and technology environmental engineering energy and fuels renewable energy
- natural sciences chemical sciences inorganic chemistry transition metals
- social sciences economics and business economics sustainable economy
- engineering and technology environmental engineering energy and fuels energy conversion
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Programme(s)
Multi-annual funding programmes that define the EU’s priorities for research and innovation.
Multi-annual funding programmes that define the EU’s priorities for research and innovation.
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H2020-EU.3.3. - SOCIETAL CHALLENGES - Secure, clean and efficient energy
MAIN PROGRAMME
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H2020-EU.2.1.1. - INDUSTRIAL LEADERSHIP - Leadership in enabling and industrial technologies - Information and Communication Technologies (ICT)
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H2020-EU.2.3.1. - Mainstreaming SME support, especially through a dedicated instrument
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Topic(s)
Calls for proposals are divided into topics. A topic defines a specific subject or area for which applicants can submit proposals. The description of a topic comprises its specific scope and the expected impact of the funded project.
Calls for proposals are divided into topics. A topic defines a specific subject or area for which applicants can submit proposals. The description of a topic comprises its specific scope and the expected impact of the funded project.
Funding Scheme
Funding scheme (or “Type of Action”) inside a programme with common features. It specifies: the scope of what is funded; the reimbursement rate; specific evaluation criteria to qualify for funding; and the use of simplified forms of costs like lump sums.
Funding scheme (or “Type of Action”) inside a programme with common features. It specifies: the scope of what is funded; the reimbursement rate; specific evaluation criteria to qualify for funding; and the use of simplified forms of costs like lump sums.
SME-1 - SME instrument phase 1
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Call for proposal
Procedure for inviting applicants to submit project proposals, with the aim of receiving EU funding.
Procedure for inviting applicants to submit project proposals, with the aim of receiving EU funding.
(opens in new window) H2020-SMEInst-2016-2017
See all projects funded under this callCoordinator
Net EU financial contribution. The sum of money that the participant receives, deducted by the EU contribution to its linked third party. It considers the distribution of the EU financial contribution between direct beneficiaries of the project and other types of participants, like third-party participants.
8210 AARHUS
Denmark
The organization defined itself as SME (small and medium-sized enterprise) at the time the Grant Agreement was signed.
The total costs incurred by this organisation to participate in the project, including direct and indirect costs. This amount is a subset of the overall project budget.