Local Energy Markets Mutually Benefiting
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Abstract
A large part of the extraordinary growth seen in renewable local energy markets, production has occurred among variable technologies (wind power and solar PV). This raised concerns, about the challenges of integrating large shares of variable generation into power systems.
The project, aimed to test the feasibility of a trailblazer energy trading system for local energy markets. This proved also to be a cost-effective demand response solution, to securing efficient energy supply. The concept was a win-win for producers, consumers (and prosumers) of energy, and also national grid and distribution systems, aiming to reduce network stress and power outages.
EMBLEM directly addressed an energy trilemma; security of supply, affordability and emissions The aim was to improve the performance, significantly in all three areas. The proposed final product is a monitoring, trading and billing platform, that integrates Renewable Energy (RE). This enables technology that matches the variable supply of RE with real-time demand.
The smart energy monitoring technology, tested in parallel with front-end user-interface development. This presented the potential to aggregate household energy flow data, in a low-cost manner with low data requirements for these markets.