€15.5m future energy storage project launched

Life sciences and energy | Thu 10 Dec | Author – Business & Finance
Pictured (L-R): Rowena McCappin, RealValue business director; Matt Cooper, Broadcaster; Neil Stewart, managing director, Glen Dimplex; Creda and Sean O’Driscoll, chairman and chief executive, Glen Dimplex

The RealValue consortium, led by Glen Dimplex, has revealed details on how the RealValue research and innovation project has the potential to revolutionise how consumers use and store energy via their homes.

RealValue is a €15.5m European energy storage project funded by Horizon 2020. The project has been designed to accelerate innovation and develop business models necessary for use of small-scale energy storage in residential homes.

13 partners who represent the entire energy supply chain are involved in the project, including ESB Networks, EirGrid, Glen Dimplex, SSE Airtricity, Intel and the Electricity Research Centre at University College Dublin – who will collectively deliver a 36-month large scale pilot study, across five EU member states.

Rowena McCappin, business director, RealValue, said: “It is this collective effort to further push the boundaries in renewable technology that has the potential for RealValue to be a real game changer. By involving the entire energy supply chain, RealValue will produce a robust study that will be instrumental in developing business models that quantify the potential of small-scale storage moving forward. RealValue will help to shape ground-breaking new ways for consumers to store and use renewable energy in their homes, via their heating system, and for energy companies to realise Demand Side Management.”

It was also announced that around 200 Irish homes have already been installed with Glen Dimplex Quantum storage heaters and Quantum cylinders.

This energy system combines efficient, high-performance electric space and water heating with thermal energy storage capability.

Sean O’Driscoll, chairman and chief executive, Glen Dimplex, commented: “To address the energy challenges faced by global society in the 21st century, we must work together with utility and technology partners, creating strategic alliances, to fast-track innovation. RealValue presents us with an opportunity, through these physical demonstrations in Ireland, Germany and Latvia, to generate results that will inform the energy landscape of the future. We intend to present the results of the project to policy decision makers, helping to inform EU regulation.”

RealValue will run for 36 months and it is anticipated that the resulting benefits will include cost savings, reduction of CO2 emissions and improvements in the flexibility and reliability of power systems across the globe.