Utility of the future: A vision of a two-way street

McDermott, Karl A.

doi:10.1016/j.tej.2016.12.008

Cited by 2 publications

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“…Proper management of DERs and TE frameworks would result in a dynamic distribution system that is centered on energy products, regulation products, and time-responsive prices that help stabilize the grid through the provision of energy balancing, line congestion management, and voltage control [30,643]. As in the case of European power markets, utilities may need to assume the role of the DSO.…”

Section: Applications For Utilities and Distribution System Operatorsmentioning

confidence: 99%

“…The question of whether utilities need to be deregulated to allow for this transition must also be considered. For a long time, utilities have enjoyed a natural monopoly status that needs to be unbundled to allow for competition in the markets and encourage the presence of DER aggregators at the distribution level [643]. Assuming utilities take on the role of a DSO, their relationship with consumers must transform into a partnership where the utilities, such as DSOs, engage with prosumers to achieve the common goal of the partial supply of services [643].…”

Section: Applications For Utilities and Distribution System Operatorsmentioning

confidence: 99%

“…4.4, where a smart home with several DERs interfaces with the grid to provide and receive services as necessary. As a DSO, a utility can serve as an intermediary to balance the supply and demand of power while correcting for any surpluses and stability issues quickly and reliably [643]. The transformation of the grid is already underway and it puts pressure on utilities to adapt to the competition and become an integral part of the future grid.…”

Section: Applications For Utilities and Distribution System Operatorsmentioning

confidence: 99%

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eIoT

Muhanji¹,

Flint²,

Farid³

2019

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Section: Applications For Utilities and Distribution System Operatorsmentioning

confidence: 99%

Section: Applications For Utilities and Distribution System Operatorsmentioning

confidence: 99%

Section: Applications For Utilities and Distribution System Operatorsmentioning

confidence: 99%

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eIoT

Muhanji¹,

Flint²,

Farid³

2019

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Transactive Energy Applications of eIoT

Muhanji

Flint

Farid

2019

eIoT

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Transactive Energy Applications of eIoTThe previous chapters have situated the development of eIoT within an ongoing transformation of the electric power grid. In response to several energy-management change drivers, the grid periphery will be activated with an eIoT composed of network-enabled physical devices, heterogeneous communication networks, and distributed control and decision-making algorithms that are organized by welldesigned architectures and standards. When these factors are implemented together properly, they form an eIoT control loop that effectively manages the technical and economic performance of the grid. This control loop is most consonant with an emerging concept of transactive energy (TE). Definition 4.1 (Transactive Energy [607])A system of economic and control mechanisms that allows the dynamic balance of supply and demand across the entire electrical infrastructure using value as a key operational parameter.TE is commonly viewed as a collection of techniques to manage the exchange of energy in business transactions [47]. A utility, or any other private jurisdiction can implement TE between its various customers in industrial, commercial, and residential environments to manage DER technologies. TE applications incorporate the new eIoT-based activities for utilities, and industrial, commercial, and residential consumers. The result is better management of resources, successful integration of renewable energy, and increased efficiency in grid operations [47]. In many ways, TE is seen as an effective way to manage the technical and economic performance of various grid operations at all levels of control-commercial, industrial, or residential. As such, eIoT technologies directly support the implementation of TE applications.This chapter discusses how aspects of the eIoT control loop from Chap. 3 are reflected in various TE applications across different layers of the electricity value chain:• Section 4.1 discusses the role of TE in future grid applications and highlights some of the proposed TE frameworks. • Section 4.2 presents a few motivational use cases for TE frameworks.

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Utility of the future: A vision of a two-way street

Cited by 2 publications

References 0 publications

eIoT

eIoT

Transactive Energy Applications of eIoT

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