Transactive energy and solarization: assessing the potential for demand curve management and cost savings

Himanshu Neema, Scott Phillips, Dasom Lee, David J. Hess, Zachariah Threet, Thomas Roth, Cuong Nguyen

Research output: Chapter in Book/Report/Conference proceedingConference contributionAcademicpeer-review

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Abstract

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.
Original languageEnglish
Title of host publicationDestion '21: Proceedings of the Workshop on Design Automation for CPS and IoT
PublisherACM Press
Pages19-25
Number of pages7
ISBN (Electronic)978-1-4503-8316-5
DOIs
Publication statusPublished - 18 May 2021
EventDesign Automation for CPS and IoT, DESTION 2021 - Virtual Event
Duration: 18 May 202118 May 2021

Conference

ConferenceDesign Automation for CPS and IoT, DESTION 2021
Abbreviated titleDESTION 2021
CityVirtual Event
Period18/05/2118/05/21

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