TY - JOUR
T1 - Microgrid transactive energy
T2 - Review, architectures, distributed ledger technologies, and market analysis
AU - Zia, Muhammad F.
AU - Benbouzid, Mohamed
AU - Elbouchikhi, Elhoussin
AU - Muyeen, S. M.
AU - Techato, Kuaanan
AU - Guerrero, Josep M.
PY - 2020/1
Y1 - 2020/1
N2 - Prosumer concept and digitilization offer the exciting potential of microgrid transactive energy systems at distribution level for reducing transmission losses, decreasing electric infrastructure expenditure, improving reliability, enhancing local energy use, and minimizing customers' electricity bills. Distributed energy resources, demand response, distributed ledger technologies, and local energy markets are integral parts of transaction energy system for emergence of decentralized smart grid system. Hence, this paper discusses transactive energy concept and proposes seven functional layers architecture for designing transactive energy system. The proposed architecture is compared with practical case study of Brooklyn microgrid. Moreover, this paper reviews the existing architectures and explains the widely known distributed ledger technologies (blockchain, directed acyclic graph, hashgraph, holochain, and tempo) alongwith their advantages and challenges. The local energy market concept is presented and critically analyzed for energy trade within a transactive energy system. This paper also reviews the potential and challenges of peer-to-peer and community-based energy markets. Proposed architecture and analytical review of distributed ledger technologies and local energy markets pave the way for advanced research and industrialization of transactive energy systems.
AB - Prosumer concept and digitilization offer the exciting potential of microgrid transactive energy systems at distribution level for reducing transmission losses, decreasing electric infrastructure expenditure, improving reliability, enhancing local energy use, and minimizing customers' electricity bills. Distributed energy resources, demand response, distributed ledger technologies, and local energy markets are integral parts of transaction energy system for emergence of decentralized smart grid system. Hence, this paper discusses transactive energy concept and proposes seven functional layers architecture for designing transactive energy system. The proposed architecture is compared with practical case study of Brooklyn microgrid. Moreover, this paper reviews the existing architectures and explains the widely known distributed ledger technologies (blockchain, directed acyclic graph, hashgraph, holochain, and tempo) alongwith their advantages and challenges. The local energy market concept is presented and critically analyzed for energy trade within a transactive energy system. This paper also reviews the potential and challenges of peer-to-peer and community-based energy markets. Proposed architecture and analytical review of distributed ledger technologies and local energy markets pave the way for advanced research and industrialization of transactive energy systems.
KW - Blockchain
KW - decentralization
KW - demand response
KW - distributed ledger technologies
KW - energy trading
KW - local energy market
KW - microgrid
KW - peer-to-peer market
KW - prosumer
KW - renewable energy sources
KW - smart grid
KW - system architectures
KW - transactive energy
UR - http://www.scopus.com/inward/record.url?scp=85079741203&partnerID=8YFLogxK
U2 - 10.1109/ACCESS.2020.2968402
DO - 10.1109/ACCESS.2020.2968402
M3 - Review article
AN - SCOPUS:85079741203
SN - 2169-3536
VL - 8
SP - 19410
EP - 19432
JO - IEEE Access
JF - IEEE Access
M1 - 8966274
ER -