Virtual Energy Trading IT System to couple photovoltaic production and electric vehicles charging.

Project Information

Solar Bank

Grant agreement ID: 815019

DOI

10.3030/815019

Project closed

EC signature date 10 May 2018

Start date 1 June 2018

End date 30 November 2018

Funded under

• INDUSTRIAL LEADERSHIP - Innovation In SMEs

Total cost

€ 71 429,00

EU contribution

€ 50 000,00

Coordinated by

SOLELIA GREETECH AB
Sweden

Periodic Reporting for period 1 - Solar Bank (Virtual Energy Trading IT System to couple photovoltaic production and electric vehicles charging.)

Reporting period: 2018-06-01 to 2018-11-30

Summary of the context and overall objectives of the project

Solelia has developed Solar Bank, a virtual energy trading IT platform that links the solar energy produced by photovoltaic energy plant and the electricity consumed in Electric Vehicles charging stations. Solar Bank is the basis for the overall load management and a new opportunity to trade with solar electricity and renewable energy Guarantees of Origin (GO), that are bought by Solar Bank from the producer and sold to the consumers. Solelia project deals with the validation and commercialization of an innovative model, software and platform able to open unparalleled scenario in the renewable energy trading. The solution has been originally validated in the city of Uppsala (Sweden), where 14 production nodes and 248 charging nodes have been connected to the platform, attesting its potentiality and the appreciation of the End-Users. Now company plans to extend its validation process in a big European city and has already hold an agreement with Berlin municipality. As a further step, Solelia intends to develop the final product implementing a block-chain functionality: every Solar Bank account holder will have a balance represented in the blockchain; assets can be transferred to them regularly or per-request and when an account holder uses solar energy, assets are withdrawn from the block-chain wallet.

Work performed from the beginning of the project to the end of the period covered by the report and main results achieved so far

The activities carried out during the feasibility study include: 1. Block-chain functionalities analysis, 2. Selection of a city as Solar Bank full-scale validation: Berlin, 3. GO regulations analysis in European countries, 4. Assessment and starting-up the Solar Bank EU certification, 5. Market Analysis, 6. Profile and interview the key partners, 7. Establish Go-to-Market Strategy 8. Quantification of a 5-year financial projections for Solelia, 9. After the definition of Phase 2 project workplan and GANTT, development of a detailed investment plan, 10. Establish an effective IP management strategy.

Progress beyond the state of the art and expected potential impact (including the socio-economic impact and the wider societal implications of the project so far)

"The application of this solution by the smart city municipalities will allow them to create a ""Peer to peer"" community trading of solar energy from a specific energy producer (PV) to a specific consumer (EV charging station) with proximity logic and georeferenced information. allowing third party users to use the platform to issue GOs, acting as a central bank for the local banks. Thanks to the blockchain functionalities implementation, every Solarbank account holder will have their Solarbank balance represented in the blockchain: assets can be transferred to them regularly or per-request. When an account holder uses solar energy, assets are withdrawn from the blockchain wallet."

Solar Bank concept and information flux