Abstract
Renewable energy valleys (REVs) represent a transformative concept poised to reshape global energy landscapes. These comprehensive ecosystems transition regions from conventional energy sources to sustainable, self-reliant hubs for renewable energy generation, distribution, and consumption. At their core, REVs integrate advanced information and communication technology (ICT), interoperable digital solutions, social innovation processes, and economically viable business models. They offer a vision of decentralized, low-carbon landscapes accessible to all, capable of meeting local energy demands year-round by harnessing multiple renewable energy sources (RES) and leveraging energy storage technologies. This paper provides an overview of the key components and objectives of REVs, including digital integration through advanced ICT technologies and open digital solutions that enable the seamless management of RES within the REV. The social innovation aspect via the REV's active communities is also examined, encouraging their participation in the co-design, implementation, and benefit-sharing of renewable energy solutions. In addition, business viability through sustainable business models central to the REV framework is proposed, ensuring affordability and accessibility to all stakeholders. The paper presents a case study of Crete, showcasing how the REV idea can work in real life. Crete utilizes various energy sources to become energy-independent, lower carbon emissions, and enhance system resilience. Advanced energy storage technologies are employed to ensure supply and demand balance within the REV. Situated on the picturesque island of Crete, Greece, it is pioneering the establishment of a Renewable Energy Valley 'Living Lab' (REV-Lab), integrating Community Energy Labs (CELs) as innovation hubs. This initiative exemplifies the REV model, striving to create a digitalized, distributed, and low-carbon landscape accessible to all residents throughout the year.