Research Project
COORDINET: coordinating the energy market using Blockchain
A research project to coordinate and optimize energy transactions between "prosumers" and energy market operators, via Blockchain.
Where: international
Where: international
Challenge
The European energy system is undergoing a profound shift from conventional sources to distributed renewable energy (e.g., solar, wind, water). In the first scenario, it operates centrally through TSOs (Transmission System Operators) and DSOs (Distributed System Operators). In the emerging model, users actively engage in energy production, efficient consumption, and Demand Response.
Approach
These shifts can indeed reshape the roles of TSOs and DSOs and the dynamics of their collaboration, presenting the potential for fresh perspectives and opportunities. CoordiNet was conceived precisely for this purpose: to foster coordination among DSOs, TSOs, and network-connected end users.
Digital Ecosystem
Solution
Digital Ecosystem
CoordiNet will contribute to the creation of scalable tools and methodologies to safely connect, manage and coordinate a Smart Energy system, which includes various network operators and third parties. In particular, CoordiNet will develop a platform for cooperation between TSO, DSO and consumers, which relies on Blockchain technology to guarantee that energy transactions between parties can take place in a transparent, traceable and immutable way.
Engineering, in particular, will provide a blockchain-based peer-to-peer marketplace that facilitates the participation of small-scale contributors in the energy network, so that they can bring power, energy capacity and flexibility to the system.
The resulting tools will be tested and validated in three large-scale pilots in Spain, Greece and Sweden.
Financing Framework
Results
New revenue streams for network participants
Greater market transparency
Greater flexibility of the network
Impacts
Technologies
Internet Of Things
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From the Internet of Things to the Internet of Me: the key to data connection.
Blockchain
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Unchaining (the) business.
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