Parity H2020 Newsletter Second Release: September 2020

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the parity SOLUTION

PARITY aims to enable the set-up and operation of local flexibility markets at the distribution network level via a holistic offering, encompassing:

Local flexibility market platform

A smart contract enabled, blockchain based local flexibility market platform (LFM) which will facilitate both peer- to-peer energy/flexibility transactions as well as the sell/purchase of flexibility to Smart Grid actors. Energy/flexibility credits will be used to stimulate liquidity in the local market and to provide the means for market coupling with national energy & ancillary service markets through a mechanism that will link these virtual credits to actual currency.

Flexibility management tools

IoT enabled Decentralized energy resources (DER) Flexibility management tools – both in a peer-to-peer distributed fashion, but also through a centralized aggregator – that range from tools that uncover latent demand flexibility in building (e.g. Power 2 Heat solutions) and flexibility from sources not yet fully exploited in the current market landscape (e.g. Electric Vehicles) to tools for collecting, coordinating and controlling these distributed flexibility sources, in cases of failure of the local flexibility market.

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This project has received funding from the European Union’s Horizon 2020 Framework Programme for Research and Innovation under grant agreement no. 864319

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