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Smart Renewable Energy Manager for the Industrial Prosumer Market

Project description

Tools for optimal returns in energy prosumers

Efforts to reduce carbon emissions and to turn to renewable energy aim to decentralise the energy market. Individuals and industries seek to lower their costs by becoming prosumers: generating and using energy from photovoltaics, microturbines, and other renewable energy sources while selling the excess back to the utilities locally. They help to decarbonise, yet they urgently need support to integrate with distributed energy resources (DERs) on their terms and manage efficient generation, storage and loads of energy. The EU-funded SREM project will enable their smooth economic growth by offering prosumers innovative management tools designed for easy integration into local DER's units. Overall, this will facilitate the operation control and increased security of supply.

Objective

The progressive reduction in price of renewable energy and energy storage due to technology innovation and production enhancements is revolutionising the energy sector by turning the traditional centralised power system into a new decentralised one. Commercial and industrial (CI) consumers are increasingly implementing distributed energy resources (DERs) such as solar photovoltaic (PV), local batteries and electric vehicle (EV) charging stations in their facilities to lower their energy cost, increase security of supply and decarbonise the economy.By implementing an increasing number of DERs, CI consumers become prosumers (producers and consumers). Prosumers must manage their own generation, storage and consumption. Therefore, there is an urgent need to develop energy management tools able to cost-effectively integrate and operate generation, storage and loads. Moreover, new opportunities to make profit arise with the implementation of DERs (especially from the potential of the pair distributed generation plus storage) regarding the traditional scheme.SREM is an innovative Smart EMS specifically designed to fill the need to automate the management of loads and the increasing number of DERs in the CI market. Its differentiating and proprietary algorithms aim to achieve the highest financial return (15%-30% energy savings). SREM has been developed by Effinnova Management (Effinnova) a Spanish start-up company that is providing substantial economic savings through energy management services to its industrial and commercial customers and that has noted its customers urgent need to develop new energy management tools to integrate a growing number of DERs in their facilities aiming to reach economic gains, facilitate its operation control and increase the security of supply. The benefits that this technology will bring to the market will make the proposed project profitable with a ROI of 7 over 5 years and a payback period just above 2 years.

Call for proposal

H2020-SMEInst-2016-2017

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Sub call

H2020-SMEINST-1-2016-2017

Coordinator

EFFINNOVA MANAGEMENT SL
Net EU contribution
€ 50 000,00
Address
CALLE PIQUERAS 7, ENTREPLANTA OFFIC
26006 LOGRONO
Spain

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SME

The organization defined itself as SME (small and medium-sized enterprise) at the time the Grant Agreement was signed.

Yes
Region
Noreste La Rioja La Rioja
Activity type
Private for-profit entities (excluding Higher or Secondary Education Establishments)
Links
Total cost
€ 71 429,00