How Transactive Energy Systems Enable Decarbonization: Design Concepts and Demonstration Projects | Lynne Kiesling
Lynne Kiesling is a Research Professor & Co-Director for the Institute for Regulatory Law & Economics, University of Colorado-Denver.
Lynne will discuss her paper ‘How Transactive Energy Systems Enable Decarbonization: Design Concepts and Demonstration Projects’
Transactive energy systems (TS) use automated device bidding to access (residential) demand flexibility and coordinate supply and demand on the distribution system level through market processes. In this work, we present TESS, a modularized platform for the implementation of TS, which enables the deployment of adjusted market mechanisms, economic bidding, and the potential entry of third parties. TESS thereby opens up current integrated closed-system TS, allows for the better adaptation of TS to power systems with high shares of renewable energies, and lays the foundations for a smart grid with a variety of stakeholders. Furthermore, despite positive experiences in various pilot projects, one hurdle in introducing TS is their integration with existing tariff structures and (legal) requirements. In this paper, we therefore describe TESS as we have modified it for a field implementation within the service territory of Holy Cross Energy in Colorado. Importantly, our specification addresses challenges of implementing TS in existing electric retail systems, for instance, the design of bidding strategies when a (non-transactive) tariff system is already in place. We conclude with a general discussion of the challenges associated with “brownfield” implementation of TS, such as incentive problems of baseline approaches or long-term efficiency.
Please email firstname.lastname@example.org to request the Zoom joining details for this workshop by by 5pm on Tuesday, 17th May 2022.