1. Decentralized Real-Time Pricing to Achieve Integrated Transactive and Physical Grids
- Author
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Rohit Jinsiwale and Deepak Divan
- Subjects
Decentralized dispatch ,fractal grids ,PV penetration ,real-time pricing ,transactive energy ,Electrical engineering. Electronics. Nuclear engineering ,TK1-9971 - Abstract
With exponentially decreasing prices of PV the adoption of volatile and non-dispatchable sources into the grid has increased. Reliance on high speed communication and complex computations to handle these fast phenomena introduces points of failure and dramatically decreases the controllability and resiliency of the system. Real-time pricing mechanisms ensure that demand and source flexibility can be leveraged to hedge this volatility by balancing demand with available generation. Most pricing mechanisms are quasi real-time and rely on knowledge of system topology, feeder configuration and power flow patterns. This paper proposes a decentralized real-time pricing scheme that is dependent on system frequency. The global visibility of frequency as a pricing signal ensures that the dynamic price can be seen at every agent in the system. This gives every connected agent the ability to balance local needs while stabilizing the global system. By integrating the transactive and physical aspects of the grid, the system can be operated in a more optimal fashion. The approach demonstrates the ability to scale to islanded microgrids as well as larger market structures. By eliminating the need for low-latency communications and detailed network models, the system is also seen to be more resilient and flexible. The proposed approach shows the ability to dynamically balance generation and loads in real-time, while also achieving required market functions showing a truly integrated transactive and physical grid.
- Published
- 2019
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