A review of transactive energy systems: Concept and implementation

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 frame...

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Bibliographic Details
Published in:Energy reports 2021-11, Vol.7, p.7804-7824
Main Authors: Huang, Qi, Amin, Waqas, Umer, Khalid, Gooi, Hoay Beng, Eddy, Foo Yi Shyh, Afzal, Muhammad, Shahzadi, Mahnoor, Khan, Abdullah Aman, Ahmad, Syed Adrees
Format: Article
Language:English
Subjects:
Blockchain
Energy market
Peer-to-peer
Prosumers
Transactive energy
Transmission and distribution
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Summary: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.
ISSN:2352-4847
2352-4847
DOI:10.1016/j.egyr.2021.05.037