Fintech Platform Solution for Sustainable Energy System Intracting and Contracting boosting energy saving and renewable energy (ERA-Net SES MICALL)
Keywords: Fintech Platform, Energy Saving Contracting, Renewable energy contracting, intracting, digitalization
Project summary
The mission of the project is allowing a wave of decarbonisation projects easing the set-up of Energy Performance and Energy Savings Performance Contracting EPCo/ESPCo by end-to-end digitalisation of the energy contracting (and the intracting process for public bodies and larger companies). Using pre-existing data from buildings passes and energy audits, a gamified investment process, providing diversification options in an investor dashboard, smart contracts, a digital encrypted meter- based repayment process and machine learning-based fault detection during operation will be offered by platform modules. A guidance tool allows potential portal developers to steer their projects into the right direction. The competencies and diversity of the partners from 5 EU countries + India include skills for setting up energy related services, also using machine learning and crypto-technology, smart metering, legal tech for energy contracting, and social research for a green energy transition.
Program: COFUND-ENERDIGIT Contract No. 289 dated 02.05.2022
Project title (RO): Platformă Fintech pentru contractare în domeniul energetic, promovând energiile regenerabile și reducerea costurilor asociate surselor convenționale
Contracting Authority: Executive Unit for Financing Higher Education, Research, Development, and Innovation – UEFISCDI Beneficiary: BEIA CONSULT INTERNATIONAL
Partners:
- BEIA CONSULT INTERNATIONAL S.R.L.
- Effiziente.st Energie- und Umweltconsulting e.U.
- Stiftung Europe University Viadruna
- Wellness TechGroup
- SEnerCon GmbH
- Vellore Institute of Technology
- QiGrid Technologies Private Limited
- Emerson Control and Automation
- Institute for Energy Studies – Anna University
- Baer Messtechnik
- Frank Bold Advokáti s.r.o, Total Project Value for BEIA Partner (RON): 784,575, of which: • Budget: 525,977 • Own Financial Contribution: 156,916 • European Commission: 101,682
Logo:
Phases and Activities:
Phase 1. Analysis of the current state of knowledge and the market; defining requirements (reporting date: 30/12/2022)
The implementation of these activities aims to aid in understanding the current context both nationally and at the European level regarding the EPC and ESPC markets, the specific characteristics and advantages of existing or developing solutions in the market, and to define the requirements for the FINSESCO platform for implementing the pilot solution at the national level.
Stage Results: Research report on the current state of knowledge and the market, technical-functional requirements, Stage 1 audit report
Act 1.1. Analysis of the current state of knowledge and the market in the field of EPCo and ESPCo (correlated with T2.1)
Act 1.2. Definition of technical and functional requirements for hardware and software components of the pilot solution (correlated with T2.2 and T2.3 in the international project)
Phase 2. Design and development of the pilot solution (reporting date: 29/12/2023)
The implementation of these activities addresses the design and development of a pilot solution for monitoring and evaluating projects focused on implementing energy efficiency measures.
Stage Results: Research report on the design and development of the pilot solution, Stage 2 audit report
Act 2.1. Definition of the architecture and design of hardware and software components of the pilot solution (correlated with T3.1 in the international project)
Act 2.2. Development and implementation of the pilot solution (correlated with T3.2, T3.3)
Phase 3. Testing and validation of the solution; coordination, dissemination, and definition of the exploitation strategy (reporting date: 31/12/2024)
The implementation of these activities aims to test and validate the pilot solution for monitoring and evaluating projects focused on implementing energy efficiency measures, as well as to develop a market exploitation strategy based on the data available at the time of the report’s preparation.
Stage Results: Research report on testing and validation of the solution; Business plan; Project results dissemination report; Stage 3 audit report
Act 3.1. Evaluation, testing, and validation of the pilot solution (correlated with T4.1 in the international project)
Act 3.2. Definition of the market exploitation strategy, coordination, and dissemination (correlated with T4.1, T4.2, T4.3, T4.4, T4.5, T4.6, T5.1, T5.2, T5.3, T5.4, T5.5, T5.6, T5.7, T5.8 in the international project)
For address measuring and verification, various methodologies can be used, such as downloading data from secure smart meters or using the previous energy bills as a baseline. A more comprehensive methodology, which is being approached during the FINSESCO project, envisions the usage of energy sensors data (smart meters, inverters, smart plugs etc.), other IoT assets data (weather stations, PV panel monitoring stations etc.) and external data (for example, weather forecasts), to have an automated process of assessing the impact of EPC in an automated and secure way.
The measurement and verification component (applied for the implementation of renewable energy sources) provides functionalities as:
- Sensor data visualization through customizable dashboards (tables, graphs, diagrams);
- Alarming and notifications based on defined rules;
- Customized reporting on demand;
- Project definition by investment cost, duration of the EPC, contracting rules and distribution of savings between investors;
- Visualization of financial data associated with the investment project, as NPV (Net Present Value), IRR (Internal Rate of Return) and ROI (Return of investment), savings, distribution of revenue etc.
The energy and savings dashboard presents data for stakeholders involved in the energy performance contract, as the total consumption, consumption from the PV installation, consumption from the public grid and savings achieved.
The investor dashboard facilitates the visualization of information regarding the investment value from each investor and the share of each investor in the total investment pool, the ROI per investor, rentability forecasts, IRR (Internal Rate of Return) and NPV (Net Present Value).
While the investor dashboard provides information regarding individual performance indicators to identify potential risks, the project performance dashboard facilitates an overview of the investment.
The installed infrastructure dashboard presents data regarding the equipment installed or the measures adopted within the project, also regarding the project duration, value and estimated yield.
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