Experts Develop New Blockchain Technology to Give Consumers More Control over their Energy Usage DELTA, a European Union research and innovation project, is showcasing its main technology breakthroughs at European Utility Week currently taking place in Vienna.
The initiative is one of only 24 EU funded projects to be invited to exhibit at the European Projects Zone at European Utility Week 2018.
DELTA is developing a new IT system to increase participation in demand response around Europe for both commercial and residential prosumers and consumers.
Dr Dimitrios Tzovaras, project coordinator and research director with the Information Technologies Institute at CERTH, said: “The untapped potential of demand response around Europe is huge, and it will become increasingly important and valuable as Europe continues to see extreme weather conditions as a result of climate change.
“These weather events push our electricity grids to the limit, leaving imbalances which demand response can help to alleviate. Making it easier for aggregators to manage their portfolios of prosumers and consumers is a key step in unleashing the demand response potential around Europe and one of DELTA’s key goals.
“Europe makes up the world’s third largest electricity market therefore we need to find innovative ways to ensure our electricity supply is secure, smart, integrated and reliable. Our research will develop a next generation demand response framework for every consumer of electricity, regardless of size and empower them to actively engage in everyday energy transactions by providing aggregators with the necessary tools.”
The BEUC, the European Consumer Organisation, has recently called for the entry of independent aggregators into the market to be made easier, as long as they respect all the obligations that electricity suppliers have. DELTA believes by offering innovative, scalable and efficient technologies in the demand response sector, such as the DELTA Virtual Node (DVN) and Fog-Enabled Intelligent Device (FEID), aggregators can be equipped with the resources to effectively enter and contribute to the energy market
DELTA’s innovations are powered by blockchain, ensuring transparency and traceability for data collection and storage as well as providing options for smart contracts to further improve efficiency in residential and consumer energy transactions.
For more information on DELTA visit our website www.delta-h2020.eu