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IEEE Transactions on Smart Grid
Article Title: A Customer-Centric Approach to Bid-Based Transactive Energy System Design
Specialization Codes: 11.3 - Resource Endowments and Economic Performance, 12.2 - Sustainable Development and Distributed Energy, 14.1 - Public and Private Risks, Risk Management, 15.1 - Energy Data, Modeling, and Policy Analysis, 6.7 - Markets and Prices, 7 - Renewables, 8.6 - Environmental Market Design, 9.3 - Residential and Commercial Buildings,
Authors: Swathi Battula, Leigh Tesfatsion, and Zhaoyu Wang
Publication Date: 2020
Description: This study demonstrates how bid-based transactive energy system designs can be formulated from a customer-centric vantage point to encourage voluntary customer participation. Supportive evidence is provided for distribution systems populated by households with smart electric heating, ventilation and air conditioning systems. The optimal form of a household's bid function is first derived from dynamic programming principles, based solely on the household's general thermal dynamic and welfare attributes. The quantitative form of this optimal bid function is then explicitly derived, given quantitative forms for these attributes. A method is also developed for the systematic construction of household types based on these attributes. Bid comparison, peak load reduction, and target load matching test cases conducted for a 123-bus distribution system illustrate the usefulness of these methods for ensuring bid-based transactive energy system designs are able to align system goals and constraints with local customer goals and constraints while preserving customer privacy.
Ordering Information: https://www.ieee-pes.org/ieee-transactions-on-smart-grid
More Information: https://lib.dr.iastate.edu/econ_workingpapers/75

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