“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:
DER Flexibility Ecosystem seamlessly integrating Heterogeneous DER within a Unified Flexibility Management Framework, Actively Participating in Smart Grid Operations.
Storage-as-a-Service framework efficiently combining Actual Storage (EVs and batteries) and Virtual Energy Storage (Power-to-Heat).
Smart Contracts Enabled Local Flexibility Market Platform that facilitates the transition to enhanced Transactive Flexibility Systems through Distributed Intelligence and Integrated Market Based Control.
SG Monitoring, PQ Management and Active network management
Holistic Assessment of Novel Business Models and Validation in Real-Life environments to ensure wide Market Actor Engagement in the PARITY Local Flexibility Market Platform
Promote the adoption of the PARITY solution as a next-generation Local Flexibility Market Platform through intense dissemination and knowledge transfer of the project’s outcomes.