Acronym
COLORS

Name
COntextual LOad flexibility Remuneration Strategies

Description
COLORS explores business models and market structures for intensive and efficient use of distributed energy resources with focus on demand response. Taking into account the context created by the photovoltaic and wind generation, the different periods of the day and week, the temperature, and electricity market prices, different innovative tariff and remuneration schemes and strategies will be developed. A COLORS demand response platform will be developed in order to test different options for the remuneration of consumers? participation in demand response programs, for both the aggregator and the consumer. Dynamically defined clusters of consumers will be established according to the context. An existing simulation platform combining multi-agent and physical emulation will be improved with the COLORS achievements, enabling the realistic validation of the project results also assessing increased smart grid efficiency and lower pollutant emissions and energy costs.

Responsible
Pedro Faria