Explore the words cloud of the TradeRES project. It provides you a very rough idea of what is the project "TradeRES" about.
The following table provides information about the project.
Laboratorio Nacional de Energia e Geologia I.P.
|Coordinator Country||Portugal [PT]|
|Total cost||3˙988˙713 €|
|EC max contribution||3˙988˙712 € (100%)|
1. H2020-EU.3.3.4. (A single, smart European electricity grid)
|Duration (year-month-day)||from 2020-02-01 to 2024-01-31|
Take a look of project's partnership.
|1||Laboratorio Nacional de Energia e Geologia I.P.||PT (S.Mamede de infesta)||coordinator||651˙860.00|
|2||DEUTSCHES ZENTRUM FUER LUFT - UND RAUMFAHRT EV||DE (KOELN)||participant||485˙391.00|
|3||TECHNISCHE UNIVERSITEIT DELFT||NL (DELFT)||participant||411˙983.00|
|4||Teknologian tutkimuskeskus VTT Oy||FI (Espoo)||participant||382˙410.00|
|5||INSTITUTO SUPERIOR DE ENGENHARIA DO PORTO||PT (PORTO)||participant||376˙875.00|
|6||BITYOGA AS||NO (STAVANGER)||participant||375˙000.00|
|7||IMPERIAL COLLEGE OF SCIENCE TECHNOLOGY AND MEDICINE||UK (LONDON)||participant||358˙342.00|
|8||NEDERLANDSE ORGANISATIE VOOR TOEGEPAST NATUURWETENSCHAPPELIJK ONDERZOEK TNO||NL (DEN HAAG)||participant||356˙600.00|
|9||ENBW ENERGIE BADEN-WURTTEMBERG AG||DE (KARLSRUHE)||participant||352˙750.00|
|10||SMARTWATT - ENERGY SERVICES SA||PT (Porto)||participant||237˙500.00|
Tools for the Design and modelling of new markets and negotiation mechanisms for a ~100% Renewable European Power System
The objective of this project is to develop and test an innovative electricity market design that can meet society’s needs in a (near) 100% renewable power system. Such a long-term sustainable market design needs to provide efficient operational and investment incentives for an electricity system that is characterized by a high share of variable renewable energy sources, that is highly integrated with sectors such as home heating and cooling and transport, and needs to provide efficient incentives for the participation of all demand, from households to industrial consumers. It needs to provide security of supply by ensuring sufficient controllable electricity generation capacity without becoming too costly. And despite the variability of solar and wind energy the price risk must be limited: for investors, so the cost of capital does not become too high, and for consumers so they are not exposed to unmanageable swings in their energy expenses.
In this project, a market design will be developed that meets these objectives. It will be tested in a sophisticated simulation environment in which real-world characteristics such as actors’ limited foresight into the future and risk aversion are included. The performance of the market design - with respect to quantitative indicators such as security of supply, average costs to consumers and investment cost recovery - will be compared to a benchmark calculation of an optimal power system, which will also be developed in this project. We will involve representatives of all key stakeholder groups - consumers, large and small power generators, network operators and government in all phases of the process, in the market design as well as the development of the optimization and simulation models, in order to ensure the social acceptability of the research process and outcomes.
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The information about "TRADERES" are provided by the European Opendata Portal: CORDIS opendata.
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