A Cost Benefit Analysis (CBA) framework for cross border innovation projects regarding the electricity trading and smart grid technology will be conducted within WP9, to indicate how the FARCROSS concept and tools can provide significant value for the cross-border cooperation, smart grids and market coupling, achieving the targets for the Internal Energy Market.
The CBA plays an essential role within the FARCROSS project by:
- Providing tangible KPIs to proportionate the pros-and-cons of “before” and “after” situations among the various countries involved in innovation projects.
- Identifying and prescribing new business opportunities for energy stakeholders in cross-border electricity trading and smart grid technology provision.
- Enhancing the efforts for regulatory harmonization by providing tangible proof of how beneficial cross-border smart grid and trading innovations are for the secure and clean energy future of the European electricity grid.
- Enhancing the portfolio of solutions for the planning of cross-border infrastructure investments.
The broad perspective of the FARCROSS CBA will achieve to ‘channel’ local to cross-border benefits, facilitating the pathway to achieve EU targets regarding utilities, market designs, social benefits, business uptake of innovation and increased cross border cooperation.