Title: Co-simulation of transactive energy markets: A framework for market testing and evaluation

Abstract

The proliferation of distributed energy resources (DER)—and the ability to intelligently control these assets—is re-defining the electrical distribution system. As the number of controllable devices rapidly expands, grid operators must determine how to incorporate these assets while delivering reliable, equitable, and affordable electricity. One possible approach is to establish distribution-level electricity markets and allow devices/aggregations of devices to participate in price establishment. While this approach purports some of the same benefits as the highly successful wholesale electricity markets (i.e., open competition, efficient price discovery, reduced communication overhead), this needs to be researched and quantified via an analysis platform that models distribution-level markets at the appropriate fidelity. Specifically, the simultaneous evaluation of market performance, DER performance, DER bidding approaches, and distribution feeder power quality requires modeling that spans multiple technical areas. Co-simulation has emerged as a powerful tool in addressing this type of problem, where outputs depend on a range of underlying areas of expertise and associated models. In this paper we describe a solution, as implemented in the HELICS co-simulation platform, where we include (1) high fidelity house models, (2) intelligent bidding agents, (3) a modular market integration/design, and (4) a distribution feeder model. We then present a case studymore » where we test two different market designs: (1) a pseudo-wholesale double-blind auction, and (2) an asynchronous matching market. In this work, the markets are run under two DER penetration levels and economic results are compared to full retail net energy metering and avoided cost net metering scenarios that bookend current approaches to remuneration of DER participation. We show the potential for transactive markets to provide increased value for most customers relative to net metering (and all customers relative to avoided cost scenarios) while decreasing costs for the utility.« less

Authors:

Cutler, Dylan ^[1]; Kwasnik, Ted ^[1]; Balamurugan, Sivasathya ^[1]; Elgindy, Tarek  ^[1];

• Search DOE PAGES for author "Elgindy, Tarek"
• Search DOE PAGES for ORCID "0000-0003-0162-3034"

Swaminathan, Siddharth ^[2]; Maguire, Jeff  ^[1];

• Search DOE PAGES for author "Maguire, Jeff"
• Search DOE PAGES for ORCID "0000-0003-4354-0499"

Christensen, Dane  ^[1]

• Search DOE PAGES for author "Christensen, Dane"
• Search DOE PAGES for ORCID "0000-0002-4539-2402"

---

+ Show Author Affiliations

1. National Renewable Energy Lab. (NREL), Golden, CO (United States)
2. Pennsylvania State Univ., University Park, PA (United States)

Publication Date:

Thu Jan 28 00:00:00 EST 2021

Research Org.:

National Renewable Energy Laboratory (NREL), Golden, CO (United States)

Sponsoring Org.:

USDOE Laboratory Directed Research and Development (LDRD) Program

OSTI Identifier:

1766831

Alternate Identifier(s):

OSTI ID: 1809343

Report Number(s):

NREL/JA-7A40-77627
Journal ID: ISSN 0142-0615; MainId:29553;UUID:1e71e060-cddc-452a-8cfc-0027eb0c215a;MainAdminID:18615

Grant/Contract Number:  

AC36-08GO28308

Resource Type:

Accepted Manuscript

Journal Name:

International Journal of Electrical Power and Energy Systems

Additional Journal Information:

Journal Volume: 128; Journal ID: ISSN 0142-0615

Publisher:

Elsevier

Country of Publication:

United States

Language:

English

Subject:

29 ENERGY PLANNING, POLICY, AND ECONOMY; 24 POWER TRANSMISSION AND DISTRIBUTION; co-simulation; HELICS; blockchain; energy markets; matching market; double blind auction; transactive energy