PNNL

Abstract

Transactive coordination and control has recently emerged as a new approach to facilitate large-scale integration of various distributed energy resources into power distribution systems. Various transactive approaches are being developed for problems in power systems involving self-interested asset owners with privacy concerns. However, there has been very limited work on evaluating and comparing their performance. In this paper, a systematic performance evaluation procedure is presented for the comparison among different approaches in terms of their performance under practical conditions such as information uncertainties, individual rationality, network effects, and so on. This procedure is applied to evaluate and compare two existing transactive energy systems using double-auction market, where both quantitative and qualitative performance metrics are proposed. The detailed case studies also illustrate the performance limitations of existing double-auction-based transactive approaches, and provide useful insights on the necessary design improvements for practical applications.