“The aspiration of PARITY project is to address the “structural inertia” of existing distribution grids by delivering a transactive grid & market framework. 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 based on real-time grid operational constraints and available DER flexibility. 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 vision
PARITY addresses the “structural inertia” of DGs by delivering a transactive flexibility framework that will increase durability and efficiency of the electrical grid, while simultaneously enabling the adoption of more RES through enhanced real- time control of DER Flexibility combined with novel Active Network Management functionalities.
The PARITY project focuses on 6 main objectives:
With the innovative PARITY market framework , DSOs can enhance their role and use #flexibility to increase the grid durability and efficiency, while facilitating more RES. For HEDNO, Greek DSO, is a great opportunity to examine novel solutions for future exploitation in #Greece
Escuzar & Láchar Living Lab in Granada will be part of PARITY Spanish demo. It´s an open ecosystem with access to thousands of users with an #OpenData philosophy.They are in charge of enabling grid of the future so that new business models can be developed. @EU_H2020 @T_T_Global https://t.co/IYL1jpBIeS
PARITY will seek, pinpoint and analyze the adoption and use of technologies #iot, #blockchain, #smartcontracts in LFMs. A technological gap analysis is also on track with the aim to reveal technological innovation potential for the PARITY LFM services, to be published in October. https://t.co/f4X472y47u
The investigation of the existing and future Local Flexibility Markets ( #LFM) in Europe through an in-depth analysis is on-going in #PARITY. A flexibility market platform is an IT place where buyers and sellers meet to trade flexibility and facilitate energy trading. @EU_H2020