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

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.

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)

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THE CHANCELLOR, MASTERS AND SCHOLARS OF THE UNIVERSITY OF OXFORD

United Kingdom

EU Contribution

€ 527 092,50

MVV ENERGIE AG

Germany

EU Contribution

€ 1 440 468,76

EIRGRID PLC

Ireland

EU Contribution

€ 113 706,25

Teknologian tutkimuskeskus VTT Oy

Finland

EU Contribution

€ 687 187,50

ESB NETWORKS LTD

Ireland

EU Contribution

€ 1 201 116,88

UNIVERSITY COLLEGE DUBLIN, NATIONAL UNIVERSITY OF IRELAND, DUBLIN

Ireland

EU Contribution

€ 1 180 097,50

DEUTSCHES INSTITUT FUR WIRTSCHAFTSFORSCHUNG DIW (INSTITUT FUR KONJUNKTURFORSCHUNG) EV

Germany

EU Contribution

€ 966 965

SSE AIRTRICITY LTD

Ireland

EU Contribution

€ 2 107 081,20

INTEL RESEARCH AND DEVELOPMENT IRELAND LIMITED

Ireland

EU Contribution

€ 921 197,38

GLEN DIMPLEX DEUTSCHLAND GMBH

Germany

EU Contribution

€ 635 192,25

RIGAS TEHNISKA UNIVERSITATE

Latvia

EU Contribution

€ 632 317,50

Project information

Grant agreement ID: 646116

  • Start date

    1 June 2015

  • End date

    31 May 2018

Funded under:

H2020-EU.3.3.

  • Overall budget:

    € 15 413 331

  • EU contribution

    € 11 987 429,73

Coordinated by:

GLEN DIMPLEX HEATING & VENTILATION IRELAND UNLIMITED COMPANY

Ireland

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