Microgrid Transactive Energy Systems: A Perspective on Design, Technologies, and Energy Markets

Prosumers concept has evolved with the technology advancements in renewable energy sources and intelligent responsive load devices. Digitalization paves the way for prosumers participation in energy market with the help of big data and distributed ledger technologies. Hence, power system is becoming more decentralized at distributed level, which consists of prosumers, consumers, and distributed energy resources-based microgrid systems. These microgrid participants require a transactive energy system for energy price signals-based smooth energy transactions among themselves. In this regard, this paper proposes a microgrid transactive energy system design and its functional layers. Blockchain-based transactive energy systems are also discussed. Finally, the peer-to-peer and community-based energy markets are presented.

[1]  Haoran Zhao,et al.  Transactive energy: A review of state of the art and implementation , 2017, 2017 IEEE Manchester PowerTech.

[2]  Elhoussin Elbouchikhi,et al.  An Energy Management System for Hybrid Energy Sources-based Stand-alone Marine Microgrid , 2019, IOP Conference Series: Earth and Environmental Science.

[3]  Mark Jennings,et al.  A review of urban energy system models: Approaches, challenges and opportunities , 2012 .

[4]  Bamidele Adebisi,et al.  State-of-the-art and prospects for peer-to-peer transaction-based energy system , 2017 .

[5]  Bruno Francois,et al.  Energy Management and Operational Planning of a Microgrid With a PV-Based Active Generator for Smart Grid Applications , 2011, IEEE Transactions on Industrial Electronics.

[6]  Pierre Pinson,et al.  Consensus-Based Approach to Peer-to-Peer Electricity Markets With Product Differentiation , 2018, IEEE Transactions on Power Systems.

[7]  Yan Zhang,et al.  Enabling Localized Peer-to-Peer Electricity Trading Among Plug-in Hybrid Electric Vehicles Using Consortium Blockchains , 2017, IEEE Transactions on Industrial Informatics.

[8]  Jianzhong Wu,et al.  Review of Existing Peer-to-Peer Energy Trading Projects , 2017 .

[9]  Sijie CHEN,et al.  From demand response to transactive energy: state of the art , 2017 .

[10]  Gaetano Zizzo,et al.  A Technical Approach to the Energy Blockchain in Microgrids , 2018, IEEE Transactions on Industrial Informatics.

[11]  Mohammad Shahidehpour,et al.  Blockchain for decentralized transactive energy management system in networked microgrids , 2019, The Electricity Journal.

[12]  E. McKenna,et al.  Photovoltaic metering configurations, feed-in tariffs and the variable effective electricity prices that result , 2013 .

[13]  Josep M. Guerrero,et al.  Advanced Control Architectures for Intelligent Microgrids—Part I: Decentralized and Hierarchical Control , 2013, IEEE Transactions on Industrial Electronics.

[14]  Mark Ruth,et al.  Transactive Home Energy Management Systems: The Impact of Their Proliferation on the Electric Grid , 2016, IEEE Electrification Magazine.

[15]  D. Jenkins,et al.  Blockchain technology in the energy sector: A systematic review of challenges and opportunities , 2019, Renewable and Sustainable Energy Reviews.

[16]  Gaetano Zizzo,et al.  The Blockchain in Microgrids for Transacting Energy and Attributing Losses , 2017, 2017 IEEE International Conference on Internet of Things (iThings) and IEEE Green Computing and Communications (GreenCom) and IEEE Cyber, Physical and Social Computing (CPSCom) and IEEE Smart Data (SmartData).

[17]  Abhishek Somani,et al.  Residential transactive control demonstration , 2014, ISGT 2014.

[18]  Pierluigi Siano,et al.  A Survey and Evaluation of the Potentials of Distributed Ledger Technology for Peer-to-Peer Transactive Energy Exchanges in Local Energy Markets , 2019, IEEE Systems Journal.

[19]  Pierre Pinson,et al.  Peer-to-peer and community-based markets: A comprehensive review , 2018, Renewable and Sustainable Energy Reviews.

[20]  Christof Weinhardt,et al.  Designing microgrid energy markets A case study: The Brooklyn Microgrid , 2018 .

[21]  Pietro Ferraro,et al.  Distributed Ledger Technology for Smart Cities, the Sharing Economy, and Social Compliance , 2018, IEEE Access.

[22]  P. Pinson,et al.  Energy Collectives: A Community and Fairness Based Approach to Future Electricity Markets , 2019, IEEE Transactions on Power Systems.

[23]  T. Matsuyama,et al.  Energy Management in Prosumer Communities: A Coordinated Approach , 2016 .

[24]  Nicholas Jenkins,et al.  Peer-to-peer energy sharing through a two-stage aggregated battery control in a community Microgrid , 2018, Applied Energy.

[25]  Sijie Chen,et al.  Smart contract-based campus demonstration of decentralized transactive energy auctions , 2017, 2017 IEEE Power & Energy Society Innovative Smart Grid Technologies Conference (ISGT).

[26]  Thomas Kunz,et al.  Peer-to-peer energy trading among smart homes , 2019, Applied Energy.

[27]  Markus Kraft,et al.  Incorporating seller/buyer reputation-based system in blockchain-enabled emission trading application , 2018 .

[28]  Gabor Karsai,et al.  TRANSAX: A Blockchain-Based Decentralized Forward-Trading Energy Exchanged for Transactive Microgrids , 2018, 2018 IEEE 24th International Conference on Parallel and Distributed Systems (ICPADS).

[29]  J. Morris Chang,et al.  EMaaS: Cloud-Based Energy Management Service for Distributed Renewable Energy Integration , 2015, IEEE Transactions on Smart Grid.

[30]  M. Kuzlu,et al.  A Blockchain-based Platform for Exchange of Solar Energy: Laboratory-scale Implementation , 2018, 2018 International Conference and Utility Exhibition on Green Energy for Sustainable Development (ICUE).

[31]  Josep M. Guerrero,et al.  Energy Management System for an Islanded Microgrid With Convex Relaxation , 2019, IEEE Transactions on Industry Applications.

[32]  Ildefons Magrans de Abril,et al.  NRGcoin: Virtual currency for trading of renewable energy in smart grids , 2014, International Conference on the European Energy Market.

[33]  Jan Kietzmann,et al.  Beyond Bitcoin: What blockchain and distributed ledger technologies mean for firms , 2019, Business Horizons.

[34]  Nathan G. Johnson,et al.  Scalable multi-agent microgrid negotiations for a transactive energy market , 2018, Applied Energy.

[35]  Mohamed M. Abdallah,et al.  A survey on energy trading in smart grid , 2014, 2014 IEEE Global Conference on Signal and Information Processing (GlobalSIP).

[36]  Mohamed Benbouzid,et al.  Optimal operational planning of scalable DC microgrid with demand response, islanding, and battery degradation cost considerations , 2019, Applied Energy.

[37]  Jiaqi Yan,et al.  Overview of business innovations and research opportunities in blockchain and introduction to the special issue , 2016, Financial Innovation.

[38]  M. Peck,et al.  Energy trading for fun and profit buy your neighbor's rooftop solar power or sell your own-it'll all be on a blockchain , 2017, IEEE Spectrum.

[39]  Shunxiang Wu,et al.  User-Centric Peer-to-Peer Energy Trading Mechanisms for Residential Microgrids , 2018, 2018 2nd IEEE Conference on Energy Internet and Energy System Integration (EI2).

[40]  Cheng Wang,et al.  Energy-Sharing Model With Price-Based Demand Response for Microgrids of Peer-to-Peer Prosumers , 2017, IEEE Transactions on Power Systems.

[41]  Xiaoling Zhang,et al.  The role of renewable energy consumption and commercial services trade in carbon dioxide reduction: Evidence from 25 developing countries , 2018 .

[42]  Suryanarayana Doolla,et al.  Decentralized transactive energy management system for distribution systems with prosumer microgrids , 2018, 2018 19th International Carpathian Control Conference (ICCC).

[43]  Mohamed Benbouzid,et al.  Microgrids energy management systems: A critical review on methods, solutions, and prospects , 2018, Applied Energy.

[44]  Di Wu,et al.  Towards Cost Minimization With Renewable Energy Sharing in Cooperative Residential Communities , 2017, IEEE Access.

[45]  H. Vincent Poor,et al.  Energy Storage Sharing in Smart Grid: A Modified Auction-Based Approach , 2015, IEEE Transactions on Smart Grid.

[46]  Thomas Morstyn,et al.  Multiclass Energy Management for Peer-to-Peer Energy Trading Driven by Prosumer Preferences , 2019, IEEE Transactions on Power Systems.

[47]  Amanullah M. T. Oo,et al.  A hierarchical transactive energy management system for energy sharing in residential microgrids , 2017 .

[48]  Xinghuo Yu,et al.  Smart Electricity Meter Data Intelligence for Future Energy Systems: A Survey , 2016, IEEE Transactions on Industrial Informatics.

[49]  J. Vasquez,et al.  Peer-to-Peer Energy Market for Community Microgrids [Technology Leaders] , 2018, IEEE Electrification Magazine.

[50]  Nikos D. Hatziargyriou,et al.  Microgrids : architectures and control , 2014 .

[51]  Thomas Kunz,et al.  An optimal P2P energy trading model for smart homes in the smart grid , 2017 .

[52]  Mohammad E. Khodayar,et al.  The short-term operation of microgrids in a transactive energy architecture , 2016 .

[53]  Christof Weinhardt,et al.  Designing microgrid energy markets , 2018 .

[54]  Satoshi Nakamoto.  Bitcoin : A Peer-to-Peer Electronic Cash System , 2009 .