Periodic Reporting for period 1 - SREM (Smart Renewable Energy Manager for the Industrial Prosumer Market)
Reporting period: 2018-02-01 to 2018-05-31
The reduction in price of renewable energy and energy storage is revolutionizing the energy sector by turning the traditional centralized power system into a new decentralized 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 decarbonize the economy. By implementing an increasing number of DERs, CI consumers become prosumers (producers and consumers). There is an urgent need to develop energy management tools (EMS) able to cost-effectively integrate and operate generation, storage and loads. 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 achieving the highest financial return. After several test in a pilot plant, SREM needs to be technologically upgraded with a renewed set of energy services and re-define EFFINOVA stakeholders for the international expansion of SREM.
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 focus of our Feasibility Study has been directed on the identification of target markets and technical challenges, confirming the technical and financial viability of SREM. Technically, we defined the roadmap forour product optimization to increasing its technical capacity. Budget, schedule, resources and tasks were set. A commercial expansion plan has been proposed with a defined role of stakeholders at each level of the business plan. Risks were identified and mitigation/contingency actions proposed. The market trends showed a large demand of solutions for energy management system in upcoming years and they represent the fastest technology choice for a rapid energy transition. Our indicators established our target countries in Germany, France, UK and Italy in addition of Spain, our homebased market. We prepared a realistic business case. The financial estimations brought back attractive returns on investment, even in a conservative scenario. Therefore, we decide to go ahead with the SREM project.
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)
We expect accumulated revenues of SREM project at fifth year after commercial launch (2025) of 4,97 million€ and 10 jobs created. In this way, considering the future investment (72000€ for Phase 1 and about 1.3 million€ for Phase 2), the calculated return on investment (ROI) is 7,04 after five years of commercialization.