Simulation-Based Valuation of Transactive Energy Systems

Huang, Qiuhua; McDermott, Tom; Tang, Yingying; Makhmalbaf, Atefe; Hammerstrom, Donald; Fisher, Andy; Marinovici, Laurentiu; Hardy, Trevor

doi:10.1109/TPWRS.2018.2838111

Title: Simulation-Based Valuation of Transactive Energy Systems

Abstract

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.

Authors:

^[1];

^[1]; Tang, Yingying ^[1];

^[2];

^[2]; Fisher, Andy ^[1];

^[1];

^[1]

Pacific Northwest National Lab. (PNNL), Richland, WA (United States)
Richland, WA (United States)

Publication Date:: Fri May 18 00:00:00 EDT 2018

Research Org.:: Pacific Northwest National Lab. (PNNL), Richland, WA (United States)

Sponsoring Org.:: USDOE

OSTI Identifier:: 1439100

Alternate Identifier(s):: OSTI ID: 1779185; OSTI ID: 1842982

Report Number(s):: PNNL-SA-128912; PNNL-SA-136862
Journal ID: ISSN 0885-8950

Grant/Contract Number:: AC05-76RL01830

Resource Type:: Accepted Manuscript

Journal Name:: IEEE Transactions on Power Systems

Additional Journal Information:: Journal Volume: 34; Journal Issue: 5; Journal ID: ISSN 0885-8950

Publisher:: IEEE

Country of Publication:: United States

Language:: English

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

Citation Formats


                    Huang, Qiuhua, McDermott, Tom, Tang, Yingying, Makhmalbaf, Atefe, Hammerstrom, Donald, Fisher, Andy, Marinovici, Laurentiu, and Hardy, Trevor. Simulation-Based Valuation of Transactive Energy Systems.  United States: N. p., 2018. 
Web.  doi:10.1109/TPWRS.2018.2838111.

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                    Huang, Qiuhua, McDermott, Tom, Tang, Yingying, Makhmalbaf, Atefe, Hammerstrom, Donald, Fisher, Andy, Marinovici, Laurentiu, & Hardy, Trevor. Simulation-Based Valuation of Transactive Energy Systems.  United States.  https://doi.org/10.1109/TPWRS.2018.2838111

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                    Huang, Qiuhua, McDermott, Tom, Tang, Yingying, Makhmalbaf, Atefe, Hammerstrom, Donald, Fisher, Andy, Marinovici, Laurentiu, and Hardy, Trevor. Fri .  
"Simulation-Based Valuation of Transactive Energy Systems".  United States.  https://doi.org/10.1109/TPWRS.2018.2838111.  https://www.osti.gov/servlets/purl/1439100.

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@article{osti_1439100,

  title        = {Simulation-Based Valuation of Transactive Energy Systems},

  author       = {Huang, Qiuhua and McDermott, Tom and Tang, Yingying and Makhmalbaf, Atefe and Hammerstrom, Donald and Fisher, Andy and Marinovici, Laurentiu and Hardy, Trevor},

  abstractNote = {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.},

  doi          = {10.1109/TPWRS.2018.2838111},

  journal      = {IEEE Transactions on Power Systems},

  number       = 5,

  volume       = 34,

  place        = {United States},

  year         = {Fri May 18 00:00:00 EDT 2018},

  month        = {Fri May 18 00:00:00 EDT 2018}

}

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Fig. 1 : Conceptual valuation method [2]

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