Transactive energy: A review of state of the art and implementation

Liu, Zhaoxi; Wu, Qiuwei; Huang, Shaojun; Zhao, Haoran

doi:10.1109/ptc.2017.7980892

Cited by 89 publications

(61 citation statements)

References 22 publications

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“…In a way, a society of intelligent devices is formed to allow for market bids to be sent by a particular group of devices (e.g., hot water buffer, dishwasher, air conditioner, etc.) [23]. The local-level bidding process, or laminar market architecture, is extremely suitable for thermostatically-controlled loads [51].…”

Section: Transactive Energy and Transactive Controlmentioning

confidence: 99%

“…The local-level bidding process, or laminar market architecture, is extremely suitable for thermostatically-controlled loads [51]. Furthermore, both transactive energy and transactive control concepts are becoming more and more widely adopted by many recent pilot projects [23,49].…”

Section: Transactive Energy and Transactive Controlmentioning

confidence: 99%

“…The entire energy business ecosystem will be re-formed if the most recent research trends and principles, such as transactive energy [22,23], transactive control [24] (Transactive energy and transactive control are explained further in Section 2.4), an energy sharing economy [25], and so on, are adopted.…”

Section: Introductionmentioning

confidence: 99%

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The Next-Generation U.S. Retail Electricity Market with Customers and Prosumers—A Bibliographical Survey

et al. 2017

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Due to the rapidly-changing technologies in the power industry, many new references addressing the frameworks and business models of the next-generation retail electricity market are entering the research community. In particular, considering new customers with considerable demand response awareness and so-called prosumers with localized power generation based on distributed energy resources (DERs), the next-generation retail electricity market infrastructure will be a level playing field for local energy transactions, strategic pricing scheme design, new business model design and building an innovative energy ecosystem. Consequently, there is an urgent need to keep track of international experiences and activities taking place in the field of the market mechanism design problem at the distribution level. This paper provides a comprehensive survey of recent technology developments and aims to inspire awareness of the further deregulation of the electricity market, especially in areas close to customers. We mainly bring attention to the more than 90 articles published during the past five years. The collected literature has been divided into different sections to discuss different aspects of the next-generation retail electricity market under the deregulated power industry.

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Section: Transactive Energy and Transactive Controlmentioning

confidence: 99%

Section: Transactive Energy and Transactive Controlmentioning

confidence: 99%

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The Next-Generation U.S. Retail Electricity Market with Customers and Prosumers—A Bibliographical Survey

et al. 2017

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“…Relatively new concept in effective management of energy sources and loads connected to the SG is a transactive energy. Transactive energy (TE) has been introduced by the GridWise Architecture Council and refers to use of a combination of economic and control techniques to improve SG reliability and efficiency, using value as a key operational parameter [7,8]. Since control techniques are elements of the TE development of a software library contains advanced algorithms, which enhance the intelligence of agents.…”

Section: Introductionmentioning

confidence: 99%

Energy Flexometer: Transactive Energy-Based Internet of Things Technology

et al. 2018

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Effective Energy Management with an active Demand Response (DR) is crucial for future smart energy system. Increasing number of Distributed Energy Resources (DER), local microgrids and prosumers have an essential and real influence on present power distribution system and generate new challenges in power, energy and demand management. A relatively new paradigm in this field is transactive energy (TE), with its value and market-based economic and technical mechanisms to control energy flows. Due to a distributed structure of present and future power system, the Internet of Things (IoT) environment is needed to fully explore flexibility potential from the end-users and prosumers, to offer a bid to involved actors of the smart energy system. In this paper, new approach to connect the market-driven (bottom-up) DR program with current demand-driven (top-down) energy management system (EMS) is presented. Authors consider multi-agent system (MAS) to realize the approach and introduce a concept and standardize the design of new Energy Flexometer. It is proposed as a fundamental agent in the method. Three different functional blocks have been designed and presented as an IoT platform logical interface according to the LonWorks technology. An evaluation study has been performed as well. Results presented in the paper prove the proposed concept and design.

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“…It provides flexibility and interaction between all loads and energy sources on-site (local level) as well as between Distribution System Operators (DSOs) and prosumers, with the possibility to exchange data and actively respond to requests for information like energy pricing (tariffs), incentive or demand reduction signals [10,[17][18][19][20]. These features are important in perspective of a transactive energy (TE)-a relatively new paradigm for the microgrids and the SG, combining information and energy to enable transactions which implements highly coordinated self-optimization and possibility for retail customers-prosumers to effectively participate in mechanisms of the purchase and sale of power and energy [21][22][23].…”

Section: Introductionmentioning

confidence: 99%

A New Concept of Active Demand Side Management for Energy Efficient Prosumer Microgrids with Smart Building Technologies

Ożadowicz

2017

Energies

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Abstract:Energy efficient prosumer microgrids (PMGs) with active and flexible demand side management (DSM) mechanisms are considered to be crucial elements of future smart grids. Due to an increasing share of renewable energy and the growing power demand, appropriate tools to manage not only the loads but also small generation units, heating and cooling systems, storage units and electric vehicles should be provided for them. Therefore, this paper proposes an innovative approach to both physical and logical organization of an active DSM system for future building-integrated prosumer microgrids (BIPMGs), based on standard building automation and control systems (BACS) as well as Internet of Things (IoT) paradigm. New event-triggered control functions with developed universal, logical interfaces for open BACS and IoT network nodes are presented and their implementation in smart metering as well as fully integrated energy management mechanisms is analyzed. Finally, potential energy efficiency improvements with proposed BACS functions are discussed, based on BACS efficiency requirements defined in the EN 15232 standard.

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Transactive energy: A review of state of the art and implementation

Cited by 89 publications

References 22 publications

The Next-Generation U.S. Retail Electricity Market with Customers and Prosumers—A Bibliographical Survey

The Next-Generation U.S. Retail Electricity Market with Customers and Prosumers—A Bibliographical Survey

Energy Flexometer: Transactive Energy-Based Internet of Things Technology

A New Concept of Active Demand Side Management for Energy Efficient Prosumer Microgrids with Smart Building Technologies

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