Power grids are undergoing major changes due to tan increase in the use of distributed energy resources (DER) and a rapid adoption of renewable energy resources, such as wind and solar power. Simultaneously, the battery technology costs per kWh have been dropping significantly. These trends are enabling a different vision for the future of power-grid operations: a decentralized system in which local communities are arranged in Microgrids. In this vision, energy generation, transmission, distribution, and storage (i.e., electric vehicles or wall-mounted residential batteries) can be strategically used to balance load and demand spikes. A key feature of this vision is the support for local peer-to-peer energy trading within microgrids to reduce the load on the distribution system operators (DSO), leading to the development of transactive energy systems. In this research project we are investigating the distributed and decentralized trading and control algorithms required to enable these next generation energy environments.
This project has been funded in part by a grant from Siemens, CT.