TY - GEN
T1 - Transactive energy and solarization: assessing the potential for demand curve management and cost savings
AU - Neema, Himanshu
AU - Phillips, Scott
AU - Lee, Dasom
AU - Hess, David J.
AU - Threet, Zachariah
AU - Roth, Thomas
AU - Nguyen, Cuong
N1 - Funding Information:
This work at Vanderbilt University is supported in part by the Partnership for International Research and Education (PIRE) program and the Cyber-Physical Systems (CPS) program of NSF under award #1743772, and by National Institute of Standards and Technology (NIST) under award 70NANB19H100. Official contribution of the National Institute of Standards and Technology; not subject to copyright in the United States. Certain commercial products are identified in order to adequately specify the procedure; this does not imply endorsement or recommendation by NIST, nor does it imply that such products are necessarily the best available for the purpose.
Publisher Copyright:
© 2021 ACM.
PY - 2021/5/18
Y1 - 2021/5/18
N2 - Utilities and local power providers throughout the world have recognized the advantages of the "smart grid" to encourage consumers to engage in greater energy efficiency. The digitalization of electricity and the consumer interface enables utilities to develop pricing arrangements that can smooth peak load. Time-varying price signals can enable devices associated with heating, air conditioning, and ventilation (HVAC) systems to communicate with market prices in order to more efficiently configure energy demand. Moreover, the shorter time intervals and greater collection of data can facilitate the integration of distributed renewable energy into the power grid. This study contributes to the understanding of time-varying pricing using a model that examines the extent to which transactive energy can reduce economic costs of an aggregated group of households with varying levels of distributed solar energy. It also considers the potential for transactive energy to smooth the demand curve.
AB - Utilities and local power providers throughout the world have recognized the advantages of the "smart grid" to encourage consumers to engage in greater energy efficiency. The digitalization of electricity and the consumer interface enables utilities to develop pricing arrangements that can smooth peak load. Time-varying price signals can enable devices associated with heating, air conditioning, and ventilation (HVAC) systems to communicate with market prices in order to more efficiently configure energy demand. Moreover, the shorter time intervals and greater collection of data can facilitate the integration of distributed renewable energy into the power grid. This study contributes to the understanding of time-varying pricing using a model that examines the extent to which transactive energy can reduce economic costs of an aggregated group of households with varying levels of distributed solar energy. It also considers the potential for transactive energy to smooth the demand curve.
U2 - 10.1145/3445034.3460510
DO - 10.1145/3445034.3460510
M3 - Conference contribution
SP - 19
EP - 25
BT - Destion '21: Proceedings of the Workshop on Design Automation for CPS and IoT
PB - ACM Press
T2 - Design Automation for CPS and IoT, DESTION 2021
Y2 - 18 May 2021 through 18 May 2021
ER -
