From demand response to transactive energy: state of the art
By Sijie Chen, Chen-Ching Liu. 2017
262 citations recorded by the source corpus.
This paper reviews the state of the art of research and industry practice on demand response and the new methodology of transactive energy. Demand response programs incentivize consumers to align their demand with power supply conditions, enhancing power system reliability and economic operation. The design of demand response programs, performance of pilot projects and programs, consumer behaviors, and barriers are discussed. Transactive energy is a variant and a generalized form of demand response in that it manages both the supply and demand sides. It is intended for a changing environment with an increasing number of distributed resources and intelligent devices. It utilizes the flexibility of various generation/load resources to maintain a dynamic balance of supply and demand. These distributed resources are controlled by their owners. However, the design of transaction mechanisms should align the individual behaviors with the interests of the entire system. Transactive energy features real-time, autonomous, and decentralized decision making. The transition from demand response to transactive energy is also discussed.
Subfields: Control and Systems Engineering, Electrical and Electronic Engineering
View Paper: https://www.semanticscholar.org/paper/86a97972b2228d00a8db851c1ca30e349aa172c1
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In Control and Systems Engineering
In Electrical and Electronic Engineering
Citations in the corpus
- A Survey and Evaluation of the Potentials of Distributed Ledger Technology for Peer-to-Peer Transactive Energy Exchanges in Local Energy Markets (2019, unknown): “The selection of the auction type encoded inside the smart contract is agreed between the aggregator and the prosumers [27].”
- Energy Collectives: A Community and Fairness Based Approach to Future Electricity Markets (2019, background): “Building on the concepts of transactive energy [11] and energetic communities [12], communities of prosumers have been proposed, where groups of end-users can coordinate their energy utilization.”
- Blockchain for smart grid resilience: Exchanging distributed energy at speed, scale and security (2017, background): “Applying blockchain based smart contracts [2 – 4] presents an opportunity to increase the speed, scale and security of transactive energy applications [5 – 7].”