BENEFFICE – The innovative project, that turns the energy wasting challenge into an opportunity!
As a part of the Horizon 2020 Research and Innovation Programme, BENEFFICE explores a new approach for the fight against climate change and the EU Green Deal, the new EU growth strategy for a “greener” society.
The project contemplates the use of a mobile application that offers residential customers information and recommendations related to their energy consumption and a range of energy-saving challenges to unlock monetary rewards in digital currency €O2.
This is achieved by installing novel IoT-enabled devices at homes, which capture the total energy consumption, the indoor/outdoor weather conditions and by intelligent analyses, which can derive the energy consumption at the level of groups of devices.
The new €O2 coin is born, the currency that bets on the fight against climate change!
BENEFFICE launches €Ο2, an alternative virtual currency, which aims to reduce energy waste in houses, through a system of rewards for its users.
€Ο2 coins are credited only when energy savings are achieved by effective users’ behaviour based on the recommendations and successfully completed challenges.
The minted €Ο2 can be spent with €Ο2 credit card in any economic transaction in Euro.
This concept evaluates the potential of an alternative virtual currency, as a monetary incentive never tested before, to achieve energy efficient behavior. It thus contributes to climate change and promotes carbon free growth.
The project through the campaign #Engage€O2Coin seeks to engage residential consumers in energy saving activities and motivate them by offering monetary rewards when achievements are registered.
BENEFFICE is being currently tested in more than 100 households around Europe (Austria, France, Greece, Spain and Denmark), representing a variety of household types and sizes, number of occupants, and geographic locations.
The behavior of consumers in all pilot countries will be analysed to identify the challenges, similarities and differences of the wider consumer population, the degree of energy awareness and their actual behavioral change from using the BENEFFICE application and finally measure the potential to generate Energy Efficiency.
BENEFFICE is a project developed by a consortium of European organizations (Euro-Funding Advisory Group, GECO Global, Kafkas SA, National Technical University of Athens and VERBUND Solutions GmbH), led by European Dynamics Belgium SA as the coordinator and is funded by the European Union’s Horizon 2020 Research and Innovation Programme under grant agreement No 768774.
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Learn more about the project at http://www.beneffice.eu/