A review of transactive energy systems: Concept and implementation

Qi Huang; Waqas Amin; Khalid Umer; Hoay Beng Gooi; Foo Yi Shyh Eddy; Muhammad Afzal; Mahnoor Shahzadi; Abdullah Aman Khan; Syed Adrees Ahmad

Energy Reports (Nov 2021)

A review of transactive energy systems: Concept and implementation

Qi Huang,
Waqas Amin,
Khalid Umer,
Hoay Beng Gooi,
Foo Yi Shyh Eddy,
Muhammad Afzal,
Mahnoor Shahzadi,
Abdullah Aman Khan,
Syed Adrees Ahmad

Affiliations

Qi Huang: Sichuan Provincial Key Lab of Power System Wide-Area Measurement and Control, School of Mechanical and Electrical Engineering, University of Electronic Science and Technology of China, Chengdu 611731, China; Corresponding author.
Waqas Amin: School of Electrical and Electronic Engineering, Nanyang Technological University, Singapore; Sichuan Provincial Key Lab of Power System Wide-Area Measurement and Control, School of Mechanical and Electrical Engineering, University of Electronic Science and Technology of China, Chengdu 611731, China
Khalid Umer: Sichuan Provincial Key Lab of Power System Wide-Area Measurement and Control, School of Mechanical and Electrical Engineering, University of Electronic Science and Technology of China, Chengdu 611731, China
Hoay Beng Gooi: School of Electrical and Electronic Engineering, Nanyang Technological University, Singapore
Foo Yi Shyh Eddy: School of Electrical and Electronic Engineering, Nanyang Technological University, Singapore
Muhammad Afzal: Sichuan Provincial Key Lab of Power System Wide-Area Measurement and Control, School of Mechanical and Electrical Engineering, University of Electronic Science and Technology of China, Chengdu 611731, China
Mahnoor Shahzadi: Sichuan Provincial Key Lab of Power System Wide-Area Measurement and Control, School of Mechanical and Electrical Engineering, University of Electronic Science and Technology of China, Chengdu 611731, China
Abdullah Aman Khan: Sichuan Provincial Key Lab of Power System Wide-Area Measurement and Control, School of Mechanical and Electrical Engineering, University of Electronic Science and Technology of China, Chengdu 611731, China
Syed Adrees Ahmad: Sichuan Provincial Key Lab of Power System Wide-Area Measurement and Control, School of Mechanical and Electrical Engineering, University of Electronic Science and Technology of China, Chengdu 611731, China

Journal volume & issue: Vol. 7
pp. 7804 – 7824

Abstract

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Transactive energy is an effective way to share and trade energy among peers. A transactive energy framework is composed of several integrated blocks such as an energy market, service providers, generation companies, transmission and distribution networks, prosumers, etc. The success of such a framework can be measured by analyzing the effectiveness of its major building blocks. This paper provides a basic definition of transactive energy which helps in identifying its primary building blocks. Based on the identified building blocks, each block of the transactive energy system is discussed briefly to highlight its significant role and effectiveness. Some enabling technologies for such systems are then reviewed along with pilot projects. In the end, some policy guidelines are presented to speed up their implementation.

Published in Energy Reports

ISSN: 2352-4847 (Online)
Publisher: Elsevier
Country of publisher: United Kingdom
LCC subjects: Technology: Electrical engineering. Electronics. Nuclear engineering
Website: http://www.journals.elsevier.com/energy-reports/

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Abstract

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