Our paper entitled “Transactive energy systems: The market-based coordination of distributed energy resources” appeared on IEEE Control Systems Magazine as the cover page paper!
The increasing penetration of renewable energy poses significant challenges to the planning and operation of modern power grids. One promising solution to attenuate this challenge is by integrating the distributed energy resources (DERs) residing in the distribution power network (such as distributed generators, flexible loads, and storage). Significant efforts have been devoted to developing coordination strategies that realize this goal, which requires combined expertise from both economics and control. In this article, we synthesized a unifying framework that captures a large number of related works in the literature. Our framework can be used to answer the following fundamental questions about the design and analysis of these coordination strategies: 1) What is the fundamental difference between various strategies in the literature? 2) What is the key element of these strategies? and 3) What is the best way to design a coordination strategy for DERs? We aim to provide a deeper understanding of various transactive energy systems, which facilitates future research in this area. Paper is available at: https://arxiv.org/pdf/1908.03641.pdf