PARITY SIGNED
Pro-sumer AwaRe, Transactive Markets for Valorization of Distributed flexibilITY enabled by Smart Energy Contracts
Total Cost €
0EC-Contrib. €
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0PARITY project word cloud
Explore the words cloud of the PARITY project. It provides you a very rough idea of what is the project "PARITY" about.
Project "PARITY" data sheet
The following table provides information about the project.
| Coordinator |
ETHNIKO KENTRO EREVNAS KAI TECHNOLOGIKIS ANAPTYXIS
Organization address contact info |
| Coordinator Country | Greece [EL] |
| Total cost | 9˙388˙829 € |
| EC max contribution | 7˙151˙837 € (76%) |
| Programme |
1. H2020-EU.3.3.4. (A single, smart European electricity grid) |
| Code Call | H2020-LC-SC3-2019-ES-SCC |
| Funding Scheme | IA |
| Starting year | 2019 |
| Duration (year-month-day) | from 2019-10-01 to 2023-03-31 |
Partnership
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Project objective
PARITY addresses the “structural inertia” of existing distribution grids by delivering a transactive grid & market framework that will increase the durability and efficiency of the electrical grid and facilitate the penetration of RES beyond 50% of the generation mix in the distribution network.
PARITY will go beyond the traditional “top-down” grid management practices by delivering a unique local flexibility market platform through the seamless integration of IoT and blockchain technologies. By delivering a market for automated flexibility exchange based on smart contracts & blockchain, PARITY will facilitate efficient and transparent local flexibility transactions and reward flexibility in a cost-reflective and symmetric manner, through price signals of higher spatio-temporal granularity based on real-time grid operational constraints and available DER flexibility.
Secondly, by deploying State-of-the-Art IoT technologies PARITY will offer distributed intelligence (DER profiling) and self-learning/self-organization capabilities (automated real-time distributed control), orchestrated by the cost-reflective flexibility market signals generated by the blockchain market platform. Within PARITY, DERs will form dynamic clusters that essentially comprise self-organized networks of active DER nodes that will efficiently distribute and balance global and local intelligence, enabling real-time aggregated & P2P transactions through enhanced forecasting, optimization and control of DER flexibility.
Finally, the PARITY solution includes novel tools for Active Network Management, including an innovative STATCOM and PQ monitoring device, that will enable the DSO to enhance its management capabilities, grid observability and RES hosting capacity.
The PARITY solution will be demonstrated in 4 pilot sites around the EU (ES, CH, SE & ES) to validate its effectiveness across climatic, cultural and techno-regulatory conditions.
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The information about "PARITY" are provided by the European Opendata Portal: CORDIS opendata.