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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];  [1];  [2];  [2];  [1];  [1];  [1]
  1. Pacific Northwest National Lab. (PNNL), Richland, WA (United States)
  2. Richland, WA (United States)
Publication Date:
Research Org.:
Pacific Northwest National Lab. (PNNL), Richland, WA (United States)
Sponsoring Org.:
USDOE
OSTI Identifier:
1439100
Report Number(s):
PNNL-SA-128912
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.
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. doi:10.1109/TPWRS.2018.2838111.
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. doi:10.1109/TPWRS.2018.2838111. https://www.osti.gov/servlets/purl/1439100.
@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 = {2018},
month = {5}
}

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Figures / Tables:

Fig. 1 Fig. 1 : Conceptual valuation method [2]

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