Transactive energy systems in active distribution networks: a comprehensive review
Increasing penetration of distributed energy resources (DERs) introduced by different stakeholders, poses an immense challenge to power network operators. The traditional direct control of local DERs has the risk of violating preferences and privacies of stakeholders. A promising solution for supply...
| Main Authors: | , , , , |
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| Other Authors: | |
| Format: | Journal Article |
| Language: | English |
| Published: |
2023
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| Online Access: | https://hdl.handle.net/10356/165106 |
| _version_ | 1811683621215404032 |
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| author | Zou, Yunyang Xu, Yan Feng, Xue Naayagi, R. T. Soong, Boon Hee |
| author2 | School of Electrical and Electronic Engineering |
| author_facet | School of Electrical and Electronic Engineering Zou, Yunyang Xu, Yan Feng, Xue Naayagi, R. T. Soong, Boon Hee |
| author_sort | Zou, Yunyang |
| collection | NTU |
| description | Increasing penetration of distributed energy resources (DERs) introduced by different stakeholders, poses an immense challenge to power network operators. The traditional direct control of local DERs has the risk of violating preferences and privacies of stakeholders. A promising solution for supply-demand coordination is to utilize a transactive energy (TE) based energy management method to indirectly coordinate the local DERs, which enables the distribution-level energy providers, consumers, and prosumers to trade energy with each other through a transactive energy system (TES) trading platform. This paper provides a comprehensive review of a TES and presents a detailed classification from different perspectives, including TES participants, structure, commodity, clearing method, and solution algorithm. The presented detailed component-scale classification can be used as a reference for future TES designs. Finally, two additional market tools, i.e., penalty mechanism and loss allocation mechanism, are discussed as future focus areas, which can be seen as necessary complements to a TES for ensuring feasibility and fairness of energy trading. |
| first_indexed | 2024-10-01T04:15:38Z |
| format | Journal Article |
| id | ntu-10356/165106 |
| institution | Nanyang Technological University |
| language | English |
| last_indexed | 2024-10-01T04:15:38Z |
| publishDate | 2023 |
| record_format | dspace |
| spelling | ntu-10356/1651062023-03-17T15:39:20Z Transactive energy systems in active distribution networks: a comprehensive review Zou, Yunyang Xu, Yan Feng, Xue Naayagi, R. T. Soong, Boon Hee School of Electrical and Electronic Engineering Engineering::Electrical and electronic engineering Auction Mechanism Distributed Energy Resources Increasing penetration of distributed energy resources (DERs) introduced by different stakeholders, poses an immense challenge to power network operators. The traditional direct control of local DERs has the risk of violating preferences and privacies of stakeholders. A promising solution for supply-demand coordination is to utilize a transactive energy (TE) based energy management method to indirectly coordinate the local DERs, which enables the distribution-level energy providers, consumers, and prosumers to trade energy with each other through a transactive energy system (TES) trading platform. This paper provides a comprehensive review of a TES and presents a detailed classification from different perspectives, including TES participants, structure, commodity, clearing method, and solution algorithm. The presented detailed component-scale classification can be used as a reference for future TES designs. Finally, two additional market tools, i.e., penalty mechanism and loss allocation mechanism, are discussed as future focus areas, which can be seen as necessary complements to a TES for ensuring feasibility and fairness of energy trading. Energy Market Authority (EMA) National Research Foundation (NRF) Published version This work is supported by the National Research Foundation of Singapore, and the Energy Market Authority, under the Exploiting Distributed Generation (EDGE) Programme and administrated by the EDGE Programme Office (EDGE Programme Award No. EDGEGC2018-003). 2023-03-13T05:39:48Z 2023-03-13T05:39:48Z 2022 Journal Article Zou, Y., Xu, Y., Feng, X., Naayagi, R. T. & Soong, B. H. (2022). Transactive energy systems in active distribution networks: a comprehensive review. CSEE Journal of Power and Energy Systems, 8(5), 1302-1317. https://dx.doi.org/10.17775/CSEEJPES.2021.03290 2096-0042 https://hdl.handle.net/10356/165106 10.17775/CSEEJPES.2021.03290 2-s2.0-85139391703 5 8 1302 1317 en EDGEGC2018-003 CSEE Journal of Power and Energy Systems © 2021 CSEE. Published by Chinese Society for Electrical Engineering. This is an open-access article distributed under the terms of the Creative Commons Attribution License. application/pdf |
| spellingShingle | Engineering::Electrical and electronic engineering Auction Mechanism Distributed Energy Resources Zou, Yunyang Xu, Yan Feng, Xue Naayagi, R. T. Soong, Boon Hee Transactive energy systems in active distribution networks: a comprehensive review |
| title | Transactive energy systems in active distribution networks: a comprehensive review |
| title_full | Transactive energy systems in active distribution networks: a comprehensive review |
| title_fullStr | Transactive energy systems in active distribution networks: a comprehensive review |
| title_full_unstemmed | Transactive energy systems in active distribution networks: a comprehensive review |
| title_short | Transactive energy systems in active distribution networks: a comprehensive review |
| title_sort | transactive energy systems in active distribution networks a comprehensive review |
| topic | Engineering::Electrical and electronic engineering Auction Mechanism Distributed Energy Resources |
| url | https://hdl.handle.net/10356/165106 |
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