What will BEYOND do?
BEYOND gathers a multi-disciplinary consortium to
- Prove that blockchain-based technologies are a viable technology to setup a trading platform
- Setup bidirectional communication platform between electricity markets and a community of con/pro-sumers that engage in P2P trading but also provide (sell) generation capacity in wholesale electricity markets and establish other grid-services tailored for local markets
- Establish business models for P2P trading and local-to-regional system integration in order to stimulate the adoption of renewables beyond feed-in-tariffs schemes
- Quantify cost-benefits of local-regional-to-national market collaboration to include con-\prosumers as part of existing electricity markets (i.e. day-ahead/intraday operations)
During the project, different local-to-regional market designs will be studied in order to propose and define country specific alternatives that are in line with the requirements and scenarios. A secure, automatized and decentralized local market will be implemented in three countries (Austria, Ireland and Norway) based on smart contracts and blockchain technologies. The final steps of the project consist of analyzing the impact of these designs as well as elaborating new ideas of commercialization. To conclude, the project will provide regulatory and policy recommendations for the implementation of local-to-regional markets.
The project is supported by ERA-NET Call which is focused on supporting RDI initiatives contributing to the development of Integrated Local and Regional Energy Systems, and find solutions to efficiently provide, host and utilize high shares of renewables.