E-REGIOs primary objective is to perform new trials in order to increase the level of understanding of local markets as well as to demonstrate and validate that local energy markets will be part of the solution towards a greener, more sustainable, and distributed energy supply. The project especially aims to bridge the valley of death between research and implementation by combining and complementing previous and ongoing research, using simulations and demonstrations. We will have special focus on identifying the need for changes within regulatory issues and policy to tackle the obstacles towards commercialization of our solution.
The project goals are:
- Verification of local market design: E-REGIO will synthesize market insights from existing research. It develops simulations to verify the effectiveness of the proposed business model(s) with an energy storage system. The project further tests the impact of market contingencies (eg. customer behaviours, regulatory frameworks, policy etc.).
- Flexibility management: Demonstrate the local energy market with a community electricity storage hub model in operational environments. It will investigate the implication of storage technologies that can support local asset management.
- Update ICT to new market design concept: Develop the ICT-platform for local energy markets, to handle new models intended to be tested during trials.
- European-wide knowledge sharing: Create a European wide community for local energy market design and adoption. Develop best-practice guidelines that are truly replicable across different regions by taking into account regional energy regulations and different electricity market models.
- Diffusion of market design concept and best-practice implementation guidelines: Uncover critical motivations and frustrations of stakeholder adoption of the proposed market design.