Transactive energy: A review of state of the art and implementation

In future smart grids, large-scale deployment of distributed energy resources (DERs) and renewable energy sources (RES) is expected. In order to integrate a high penetration level of DERs and RES in the grid while operating the system safely and efficiently, new control methods for power system operations are in demand so that the flexibility of the responsive assets in the grid can be further explored. Transactive control, considered as one of the most novel distributed control approaches for power system operations, has been extensively discussed and studied around the world in recent years. This paper provides a bibliographical review on the researches and implementation of the transactive energy concepts and transactive control techniques in power systems. The ideas of transactive control are introduced mainly according to the transactive energy framework proposed by the GridWise Architecture Council. The implementation pilots and research studies on transactive control applications in power systems are reviewed subsequently.

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