Performance Evaluation for Transactive Energy Systems Using Double-Auction Market

Jianming Lian; Huiying Ren; Yannan Sun; Donald J. Hammerstrom

doi:10.1109/TPWRS.2018.2875919

Performance Evaluation for Transactive Energy Systems Using Double-Auction Market

Jianming Lian
, Huiying Ren
, Yannan Sun
, Donald J. Hammerstrom

Grid-Interactive Controls

Research output: Contribution to journal › Article › peer-review

54 Scopus citations

Abstract

Transactive coordination and control has recently emerged as a new methodology to facilitate large-scale integration of various distributed energy resources into power distribution systems. Various transactive energy systems (TESs) are being developed for power system problems 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 TESs in terms of their performance under practical conditions such as information uncertainties, network effects, individual rationality, etc. Both quantitative and qualitative performance metrics are proposed. This procedure is then applied to evaluate and compare two existing TESs using the double-auction market. The detailed case studies also illustrate the performance limitations of double-auction-based TESs and provide useful insights on the necessary design improvements for practical applications.

Original language	English
Article number	8515229
Pages (from-to)	4128-4137
Number of pages	10
Journal	IEEE Transactions on Power Systems
Volume	34
Issue number	5
DOIs	https://doi.org/10.1109/TPWRS.2018.2875919
State	Published - Sep 2019

Funding

Manuscript received September 2, 2017; revised April 21, 2018, September 23, 2018, and September 25, 2018; accepted September 27, 2018. Date of publication October 30, 2018; date of current version August 22, 2019. This work was supported by the Transactive Systems Program at the Pacific North-west National Laboratory (PNNL) funded by the U.S. Department of Energy. PNNL is operated for the U.S. Department of Energy by Battelle Memorial Institute under Contract DE-AC05-76RL01830. Paper no. TPWRS-01357-2017. (Corresponding author: Jianming Lian.) The authors are with the Pacific Northwest National Laboratory, Richland, WA 99354 USA (e-mail:, [email protected]; [email protected]; [email protected]; [email protected]).

Keywords

double auction
performance evaluation
performance metrics
Transactive coordination and control

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10.1109/TPWRS.2018.2875919

Cite this

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title = "Performance Evaluation for Transactive Energy Systems Using Double-Auction Market",

abstract = "Transactive coordination and control has recently emerged as a new methodology to facilitate large-scale integration of various distributed energy resources into power distribution systems. Various transactive energy systems (TESs) are being developed for power system problems 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 TESs in terms of their performance under practical conditions such as information uncertainties, network effects, individual rationality, etc. Both quantitative and qualitative performance metrics are proposed. This procedure is then applied to evaluate and compare two existing TESs using the double-auction market. The detailed case studies also illustrate the performance limitations of double-auction-based TESs and provide useful insights on the necessary design improvements for practical applications.",

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Performance Evaluation for Transactive Energy Systems Using Double-Auction Market

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