Energy Web joins EU-funded energy efficiency program
Energy Web has joined a EU-funded program aimed at enhancing the value of energy efficiency solutions in Europe through blockchain technology. The program will improve energy efficiency and facilitate the secure exchange of energy data.Author: Energy Web
Compiled by: ChainCatcher
Zug, Switzerland, February 14, 2023------Energy Web has joined a new EU-funded initiative aimed at enhancing the value of energy efficiency solutions across Europe. The initiative, "Innovative Energy Efficiency Service Model through Blockchain Integration" or INEEXS, primarily focuses on improving the business case for energy efficiency using open-source digital technologies. To this end, INEEXS will enable market participants to exchange detailed building, asset, and organizational data in a secure and privacy-protecting manner. Solutions under this initiative will be deployed in Germany, Spain, Greece, and an additional EU member state to be selected during the deployment process.
Energy efficiency and demand flexibility solutions continue to follow a positive growth trajectory across Europe. However, a range of technical barriers and regulatory challenges hinder the adoption of these solutions at the scale needed to facilitate the EU's transition to a clean energy economy. INEEXS is primarily dedicated to overcoming these technological barriers by enabling energy service companies, retailers, distribution system operators, financial institutions, and distributed energy resource aggregators to exchange trusted data from organizations and assets.
Over the next three years, the initiative will introduce new technologies and related business models to support this goal. As a first step, INEEXS will analyze five major energy efficiency business cases, their legal requirements, cost structures, revenue streams, and benefits beyond cost savings, in order to prioritize technological development activities under the initiative.
Energy Web CEO Jesse Morris stated, "We are very excited to bring our open-source technology stack into this initiative." "Energy Web solutions are designed to support this exact use case—enabling multiple market participants to exchange and trust granular data, each with their own information technology systems—in this case, data powering energy efficiency solutions across Europe."
"If we are to address the existential challenges of energy system transformation, it is crucial that innovative and appropriate business models are developed by active market participants," explained Filippos Anagnostopoulos, Senior Associate and Project Coordinator at IEECP. "The INEEXS project provides a unique opportunity for energy retailers, energy communities, technology developers, energy agencies, and real estate companies to validate, replicate, adopt, and launch specific technological solutions with potential transformative impacts."
By adopting new digital technologies, methods, and tools to achieve automated, accurate, rapid, and secure data exchange, INEEXS aligns with the key principles of the European Green Deal; more information can be found on the project webpage: https://ieecp.org/projects/ineexs/
Partners: IEECP --- Institute for European Energy and Climate Policy (Netherlands), HERON --- Iron Thermoilektriki Anonymi Etaireia (Greece), NTUA --- National Technical University of Athens (Greece), ESCAN (Spain), ENERCOOP- Cooperativa Electrica Benefica San Francisco De Asis Sociedad Cooperativa Valenciana (Spain), DOMX (Greece), VL --- Verdia Legal (Spain), BEA --- Berliner Energieagentur (Germany), OFFIS (Germany), Inlecom Group (Belgium), HIVEN (Finland), Energy Web Foundation (Switzerland).
Co-funded by the EU under project ID101077033. However, the views and opinions expressed are solely those of the author and do not necessarily reflect the views of the EU or CINEA. The EU and the authorized bodies are not responsible for them.
About Energy Web: Energy Web is a global nonprofit organization accelerating the clean energy transition by developing open-source technology solutions for the energy system. Our enterprise-grade solutions improve coordination across complex energy markets, unlocking the full potential of clean distributed energy for businesses, grid operators, and customers. Our enterprise asset management, data exchange, and Green Proofs solutions (tools we use to register and track low-carbon products) are built on Energy Web Chain, the world's first public blockchain tailored for the energy sector. The Energy Web ecosystem includes leading utility companies, renewable energy developers, grid operators, corporate energy buyers, automotive, IoT, telecommunications leaders, and more.
