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Simulation-Based Valuation of Transactive Energy Systems

Journal Article · · IEEE Transactions on Power Systems
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  1. Pacific Northwest National Lab. (PNNL), Richland, WA (United States)
  2. Richland, WA (United States)
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Transactive Energy (TE) has been recognized as a promising technique for integrating responsive loads and distributed energy resources as well as advancing grid modernization. To help the industry better understand the value of TE and compare different TE schemes in a systematic and transparent manner, a comprehensive simulation-based TE valuation method is developed. The method has the following salient features: 1) it formally defines the valuation scenarios, use cases, baseline and valuation metrics; 2) an open-source simulation platform for transactive energy systems has been developed by integrating transmission, distribution and building simulators, and plugin TE and non-TE agents through the Framework for Network Co-Simulation (FNCS); 3) transparency and flexibility of the valuation is enhanced through separation of simulation and valuation, base valuation metrics and final valuation metrics. In conclusion, a valuation example based on the Smart Grid Interoperability Panel (SGIP) Use Case 1 is provided to demonstrate the developed TE simulation program and the valuation method.
Research Organization:
Pacific Northwest National Laboratory (PNNL), Richland, WA (United States)
Sponsoring Organization:
USDOE
Grant/Contract Number:
AC05-76RL01830
OSTI ID:
1439100
Alternate ID(s):
OSTI ID: 1842982
OSTI ID: 1779185
Report Number(s):
PNNL-SA--128912
Journal Information:
IEEE Transactions on Power Systems, Journal Name: IEEE Transactions on Power Systems Journal Issue: 5 Vol. 34; ISSN 0885-8950
Publisher:
IEEECopyright Statement
Country of Publication:
United States
Language:
English

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Related Subjects

29 ENERGY PLANNING, POLICY, AND ECONOMY
load modeling
power system economics
power system simulation
transactive energy