RealValue energy storage consortium wins H2020 funding
A European research group has received the first phase of approval for a €12m grant from Horizon 2020. A total of €7.2m will be allocated to the Irish partners in the consortium that also consists of contributors from the UK, Germany, Finland and Latvia.
Commencing in April 2015, RealValue will begin installing Glen Dimplex Quantum energy systems into 1,250 homes, 800 of which will be in Ireland. The study will include 100 homes in Northern Ireland with the remaining pilot homes situated in Germany and Latvia.
Replacing traditional storage heaters, the Quantum energy system combines efficient, high-performance electric space and water heating with thermal energy storage capability. The twelve-strong RealValue consortium comprises the entire energy supply chain, including many major Irish energy sector players, namely Glen Dimplex, SSE Airtricity, Intel and the electricity research centre at University College Dublin.
Detailing the importance of RealValue, Glen Dimplex chairman Sean O’Driscoll commented: “RealValue involves testing pioneering technology on a large scale to accelerate innovation. It is the first large testing of this game-changing new model for renewable energy storage and will be instrumental in developing business models to quantify the potential of small-scale storage moving forward.
“We are confident that RealValue will be a catalyst for change and we intend to present the results of the project to policy decision makers, helping to inform EU regulation. RealValue is a text book for collaboration both in Ireland and within the EU.”
It is anticipated that the resulting benefits from the project will include cost savings, reduction of CO2 emissions and improvements in the flexibility and reliability of power systems across the globe. The RealValue project will continue until 2018.
