Summary
Energy storage systems (ESS) are gaining popularity among low voltage users as well as industrial application basically as a result of the falling price of these technologies. However many issues are still open such as the challenges coming from the integration of multiple distributed resources to the electric grid or the customers attitude regarding these new element in their installation.
Regarding this potential market and user needs, GPBox energy platform is presented as a revolutionary concept in the energy sector which pretend to involve all the actors in the electric market –from electric utilities to small users– through the integration of distributed energy resources based on an on-cloud system known as eBroker. eBroker concept goes beyond current development of buy cheap/sell expensive with a full value chain from customers habit evaluation to electric grid enhancement, providing Behind the Meter services (i.e. Black Start,
Voltage and Frequency support, Resource adequacy, etc.) to electric network operators, while it
saves up to 25% to the user’s electric bill.
Market projection shows that Energy Storage Systems (battery based) market will be worth about $ 34 billion of annual revenue in 2023. While the European market size will be $ 10-12 billion of annual revenue in 2023 (30%-40% of the total market). Renewable integration and grid ancillary services account for the vast majority of this ESS market. GPBox will provide Behind the Meter services based on embedded artificial intelligent tools which will allow cost saving to the electric network operators valued at more than 20% of current OPEX.
With this first phase, GPTech objective is to obtain a feasibility study and a detailed business plan which will consolidate current expectation regarding technological, operational and economic viability of GPBox business line of products; it will include a solid exploitation strategy and a reliable business model focused on 2018.
Regarding this potential market and user needs, GPBox energy platform is presented as a revolutionary concept in the energy sector which pretend to involve all the actors in the electric market –from electric utilities to small users– through the integration of distributed energy resources based on an on-cloud system known as eBroker. eBroker concept goes beyond current development of buy cheap/sell expensive with a full value chain from customers habit evaluation to electric grid enhancement, providing Behind the Meter services (i.e. Black Start,
Voltage and Frequency support, Resource adequacy, etc.) to electric network operators, while it
saves up to 25% to the user’s electric bill.
Market projection shows that Energy Storage Systems (battery based) market will be worth about $ 34 billion of annual revenue in 2023. While the European market size will be $ 10-12 billion of annual revenue in 2023 (30%-40% of the total market). Renewable integration and grid ancillary services account for the vast majority of this ESS market. GPBox will provide Behind the Meter services based on embedded artificial intelligent tools which will allow cost saving to the electric network operators valued at more than 20% of current OPEX.
With this first phase, GPTech objective is to obtain a feasibility study and a detailed business plan which will consolidate current expectation regarding technological, operational and economic viability of GPBox business line of products; it will include a solid exploitation strategy and a reliable business model focused on 2018.
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More information & hyperlinks
| Web resources: | https://cordis.europa.eu/project/id/729793 |
| Start date: | 01-06-2016 |
| End date: | 30-11-2016 |
| Total budget - Public funding: | 71 429,00 Euro - 50 000,00 Euro |
Cordis data
Original description
Energy storage systems (ESS) are gaining popularity among low voltage users as well as industrial application basically as a result of the falling price of these technologies. However many issues are still open such as the challenges coming from the integration of multiple distributed resources to the electric grid or the customers attitude regarding these new element in their installation.Regarding this potential market and user needs, GPBox energy platform is presented as a revolutionary concept in the energy sector which pretend to involve all the actors in the electric market –from electric utilities to small users– through the integration of distributed energy resources based on an on-cloud system known as eBroker. eBroker concept goes beyond current development of buy cheap/sell expensive with a full value chain from customers habit evaluation to electric grid enhancement, providing Behind the Meter services (i.e. Black Start,
Voltage and Frequency support, Resource adequacy, etc.) to electric network operators, while it
saves up to 25% to the user’s electric bill.
Market projection shows that Energy Storage Systems (battery based) market will be worth about $ 34 billion of annual revenue in 2023. While the European market size will be $ 10-12 billion of annual revenue in 2023 (30%-40% of the total market). Renewable integration and grid ancillary services account for the vast majority of this ESS market. GPBox will provide Behind the Meter services based on embedded artificial intelligent tools which will allow cost saving to the electric network operators valued at more than 20% of current OPEX.
With this first phase, GPTech objective is to obtain a feasibility study and a detailed business plan which will consolidate current expectation regarding technological, operational and economic viability of GPBox business line of products; it will include a solid exploitation strategy and a reliable business model focused on 2018.
Status
CLOSEDCall topic
SMEInst-09-2016-2017Update Date
27-10-2022
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H2020-EU.2.1.1. INDUSTRIAL LEADERSHIP - Leadership in enabling and industrial technologies - Information and Communication Technologies (ICT)
