2016
DOI: 10.1109/mpe.2016.2524962
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A Society of Devices: Integrating Intelligent Distributed Resources with Transactive Energy

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Cited by 208 publications
(125 citation statements)
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“…The transactive control approach is believed viable and with many useful attributes. It makes full use of the response potential, has a certain system reaction while maintaining market efficiency and raising no privacy issues [6]. For instance, in the Olympic Peninsula GridWise project, it demonstrated a practical value of a high degree of automation, by which the responsive assets were called upon only when and to the degree their responses were needed, and this automation resulted in successful operation of multiple complex assets to meet a severe constraint [7].…”
Section: Transactive Control Conceptsmentioning
confidence: 99%
“…The transactive control approach is believed viable and with many useful attributes. It makes full use of the response potential, has a certain system reaction while maintaining market efficiency and raising no privacy issues [6]. For instance, in the Olympic Peninsula GridWise project, it demonstrated a practical value of a high degree of automation, by which the responsive assets were called upon only when and to the degree their responses were needed, and this automation resulted in successful operation of multiple complex assets to meet a severe constraint [7].…”
Section: Transactive Control Conceptsmentioning
confidence: 99%
“…The Gridwise Architecture Council defines TE as "a set of economic and control mechanisms that allows the dynamic balance of supply and a demand across the entire electrical infrastructure" [115]. In other words, the TE mechanism is described in [116] as a decentralized real-time, dynamic pricing method considering the influence of the supply and demand using two way communication techniques. Consequently, TE mechanisms are one of the important requirements of future SSM programs.…”
Section: Future Research Directionsmentioning
confidence: 99%
“…Furthering the concept of microgrids, transactive energy models have been proposed to support the next distribution system evolution [13,16]. Transactive energy is a set of market-based constructs for dynamically balancing the demand and supply across the electrical infrastructure [16].…”
Section: Introductionmentioning
confidence: 99%