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The Project

RealValue commenced in June 2015 and is a €15.5m European energy storage project funded by Horizon 2020, the largest Research and Innovation Programme in Europe (€12M funding from the EC).

What is RealValue

Physical trials, involving real people, in 3 Member States

RealValue commenced in June 2015 and is a €15.5m European energy storage project funded by Horizon 2020, the largest Research and Innovation Programme in Europe (€12M funding from the EC). RealValue will use a combination of physical demonstrations in Ireland, Germany and Latvia along with innovative modelling techniques, in order to demonstrate how local small-scale energy storage, optimised across the whole EU energy system, with advanced ICT, could bring benefits to all market participants. The duration of the Project is 36 months.

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    Homes in Ireland/UK, Germany, Latvia

Project Aims

RealValue will provide an innovative means to mitigate the challenges associated with, and maximise the value of clean energy from renewable sources.

Generation
01. Generation
  • Efficient Dispatch of Generation
  • Renewable Energy Integration
  • Minimise Installed Capacity
Transmission
02. Transmission
  • Quality of Supply
  • Security of Supply
  • Distribution Network Capital Expenditure
Wholesale
03. Wholesale
  • Price Arbitrage
  • Ancillary Services
  • System Flexibility
Supply
04. Supply
  • Demand-Side Management
  • Collective Purchasing
  • Tariff Development
Societal
05. Societal
  • Energy Affordability
  • Carbon Reduction
  • Market Design

The aim is to demonstrate how small scale energy storage systems, within peoples homes (e.g. Smart Electric Thermal Storage Systems ‘SETS’) can provide benefits to the whole electricity supply chain, from generation and distribution, through to wholesale markets and suppliers and ultimately to the end consumer.

RealValue Consortium

The RealValue consortium is truly unique in that it encompasses the entire energy supply chain.

There are key participants from various specialisms including:

  • Industry
  • Energy Services
  • Network
  • Research Organisations
Real Value Consortium

Each Partner brings a distinct added value to the consortium

Expected Impact

RealValue will demonstrate the effect and quantify the benefits of integrated local small-scale thermal energy storage on:

  • Energy balancing
  • Grid security and supply
  • Network congestion management at local level
  • Consumers / home owners
  • Access new revenue streams for suppliers and thus facilitate benefits to flow back to consumers through effective tariff design.
  • Decarbonisation and integration of Renewable Energy Systems
  • The impact of demand side measures under different market structures and incentive regimes for policy makers and regulators

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