Performance Evaluation for Transactive Energy Systems Using Double-Auction Market

Lian, Jianming; Ren, Huiying; Sun, Yannan; Hammerstrom, Donald J.

doi:10.1109/TPWRS.2018.2875919

Title: Performance Evaluation for Transactive Energy Systems Using Double-Auction Market

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Abstract

Transactive coordination and control has recently emerged as a new approach to facilitate large-scale integration of various distributed energy resources into power distribution systems. Various transactive approaches are being developed for problems in power systems involving self-interested asset owners with privacy concerns. However, there has been very limited work on evaluating and comparing their performance. In this paper, a systematic performance evaluation procedure is presented for the comparison among different approaches in terms of their performance under practical conditions such as information uncertainties, individual rationality, network effects, and so on. This procedure is applied to evaluate and compare two existing transactive energy systems using double-auction market, where both quantitative and qualitative performance metrics are proposed. As a result, the detailed case studies also illustrate the performance limitations of existing double-auction-based transactive approaches, and provide useful insights on the necessary design improvements for practical applications.

Authors:

^[1]; Ren, Huiying ^[1]; Sun, Yannan ^[1];

^[1]

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

Publication Date:: Tue Oct 30 00:00:00 EDT 2018

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

Sponsoring Org.:: USDOE

OSTI Identifier:: 1566139

Report Number(s):: PNNL-SA-128928
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 coordination and control; double auction; performance metrics; performance evaluation

Citation Formats


                    Lian, Jianming, Ren, Huiying, Sun, Yannan, and Hammerstrom, Donald J. Performance Evaluation for Transactive Energy Systems Using Double-Auction Market.  United States: N. p., 2018. 
Web.  doi:10.1109/TPWRS.2018.2875919.

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                    Lian, Jianming, Ren, Huiying, Sun, Yannan, & Hammerstrom, Donald J. Performance Evaluation for Transactive Energy Systems Using Double-Auction Market.  United States.  https://doi.org/10.1109/TPWRS.2018.2875919

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                    Lian, Jianming, Ren, Huiying, Sun, Yannan, and Hammerstrom, Donald J. Tue .  
"Performance Evaluation for Transactive Energy Systems Using Double-Auction Market".  United States.  https://doi.org/10.1109/TPWRS.2018.2875919.  https://www.osti.gov/servlets/purl/1566139.

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@article{osti_1566139,

  title        = {Performance Evaluation for Transactive Energy Systems Using Double-Auction Market},

  author       = {Lian, Jianming and Ren, Huiying and Sun, Yannan and Hammerstrom, Donald J.},

  abstractNote = {Transactive coordination and control has recently emerged as a new approach to facilitate large-scale integration of various distributed energy resources into power distribution systems. Various transactive approaches are being developed for problems in power systems involving self-interested asset owners with privacy concerns. However, there has been very limited work on evaluating and comparing their performance. In this paper, a systematic performance evaluation procedure is presented for the comparison among different approaches in terms of their performance under practical conditions such as information uncertainties, individual rationality, network effects, and so on. This procedure is applied to evaluate and compare two existing transactive energy systems using double-auction market, where both quantitative and qualitative performance metrics are proposed. As a result, the detailed case studies also illustrate the performance limitations of existing double-auction-based transactive approaches, and provide useful insights on the necessary design improvements for practical applications.},

  doi          = {10.1109/TPWRS.2018.2875919},

  journal      = {IEEE Transactions on Power Systems},

  number       = 5,

  volume       = 34,

  place        = {United States},

  year         = {Tue Oct 30 00:00:00 EDT 2018},

  month        = {Tue Oct 30 00:00:00 EDT 2018}

}

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