Stochastic Impacts of Metaheuristics from the Toaster to the Turbine [Technology Leaders]

Knight, Mark

doi:10.1109/mele.2016.2614218

Cited by 9 publications

(7 citation statements)

References 5 publications

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“…The regional grid is a transmission grid which is dealing with the transmission network and wholesale market. The MGO, distribution system operator (DSO) and transmission system operator (TSO) are placed between two layers for sharing the 17 information between market participants. 17 TSO and DSO are accountable for balancing demand and supply at the transmission and distribution level, respectively.…”

Section: Transactive Energy Infographicmentioning

confidence: 99%

“…The MGO, distribution system operator (DSO) and transmission system operator (TSO) are placed between two layers for sharing the 17 information between market participants. 17 TSO and DSO are accountable for balancing demand and supply at the transmission and distribution level, respectively. TE concept advocates for the energy markets at each layer of the electrical power system for demand-supply balance.…”

Section: Transactive Energy Infographicmentioning

confidence: 99%

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Transactive energy management for microgrids considering techno‐economic perspectives of utility – a review

Kumar

Jain

Sharma

2022

Intl J of Energy Research

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In a power system, distributed energy resources, including renewables, are advantageous for reducing power transmission losses and environmental pollution. However, increasing penetration of distributed renewable energy sources is challenging as they may pose security issues to the grid and centralized control of quantum number of such sources is quite impossible. Microgrid based distribution system is facilitating integration of distributed renewable energy sources as they can supply the local loads and reduce burden on the grid. Moreover, distributed control mechanism of different microgrids enhances the functioning efficiency of the grid. However, intermittent and uncertain nature of renewables leads into demand-supply imbalance in a microgrid. Networked microgrids is new concept where the energy sharing between the microgrids may encourage renewable integration and reduce demand-supply imbalance. In order to manage such energy sharing among the different components in a microgrid or different microgrids in a networked structure, an appropriate energy management approach is necessitated. Transactive energy is an emerging technology for energy management in the distribution system, which uses market mechanisms for energy management. This paper discusses various types of market structures and market clearing approaches in transactive energy framework for energy management. Moreover, techno-economic perspectives of utility in transactive energy trading, such as network constraints and network usage charges, are elaborated.Finally, this review details the challenges and future scope in the transactive energy management of microgrids and networked microgrids.

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Section: Transactive Energy Infographicmentioning

confidence: 99%

Section: Transactive Energy Infographicmentioning

confidence: 99%

Transactive energy management for microgrids considering techno‐economic perspectives of utility – a review

Kumar

Jain

Sharma

2022

Intl J of Energy Research

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“…Residential customers bid based on automatic households’ price response preferences, which ranged from non‐price responsive to highly price responsive. The clearing price is determined and broadcast to participants every 5 min to enable them to compare the clearing price with their bids and automatically adjust their consumption based on received prices [7].…”

Section: Transactive Energy Approachmentioning

confidence: 99%

“…In addition, DERs usually are renewable energy resources (RERs) or other new technologies, which cause fewer carbon emissions than traditional centralized power plants with fossil fuels. From the economic point of view, electricity infrastructure is aging and decentralized energy delays or ignores the high-cost expansion planning of the bulk power plant and also can offer more competitive and stable prices than traditional centralized energy [6][7][8]. However, the growing penetration of DERs can impose some challenges, which cause reliability or efficiency problems for the system if not managed correctly.…”

Section: Motivation and Literature Surveymentioning

confidence: 99%

Transactive energy revolution: Innovative leverage for reliable operation of modern energy networks—A critical review

Kabiri-Renani

Daneshvar

Mohammadi‐Ivatloo

2022

IET Renewable Power Gen

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The electric industry is developing towards a more efficient, reliable, and resilient electric power network. In this way, utilizing distributed energy resources (DERs), especially renewable DERs (RDERs) are a paradigm change. DERs offer many advantages in power systems, including transmission loss reduction, environmental benefits of RDERs, and enhancement of security, reliability, and resiliency of the network. However, high penetration of DERs increases uncertainty and challenges the efficient and reliable operation of the power system. This paper provides a thorough review of the transactive distribution platform which is essential to address the aforementioned challenges. This distribution platform includes a transactive distribution system operator providing a seamless and coordinated control to dynamically balance supply and demand and follow uncertain generations of RDERs. Indeed, this review paper highlights the capability of transactive energy (TE) by considering its key aspect in providing energy sharing opportunities for the integration of DERs into smart grids (SGs). TE is acombination of economic and control methods that enable optimum, reliable, sustainable, and efficient operation of SGs. Furthermore, a fully transactive framework offers more choices for DERs to control and manage the energy transactions in the retail market, as well as improves the inter operability among various market players.

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“…Reliability and emission are two common values that are not currently expressed in monetary values. Other non‐economic values include renewable supply preference and carbon reduction [4]. Value signals are adjusted dynamically to reflect the changing needs of transactive agents and these needs are captured by other agents through transmission of these signals.…”

Section: Introductionmentioning

confidence: 99%

Transactive energy system: a review of cyber‐physical infrastructure and optimal scheduling

Yang¹,

Li²,

Cao³

et al. 2019

IET Generation, Transmission & Distribution

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Stochastic Impacts of Metaheuristics from the Toaster to the Turbine [Technology Leaders]

Cited by 9 publications

References 5 publications

Transactive energy management for microgrids considering techno‐economic perspectives of utility – a review

Transactive energy management for microgrids considering techno‐economic perspectives of utility – a review

Transactive energy revolution: Innovative leverage for reliable operation of modern energy networks—A critical review

Transactive energy system: a review of cyber‐physical infrastructure and optimal scheduling

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