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The Role of Transactive Energy in the Future Energy Industry: A Critical Review

Author

Listed:
  • Neeraj Gupta

    (Department of Electrical Engineering, NIT Srinagar, Srinagar 190006, India
    These authors contributed equally to this work.)

  • B Rajanarayan Prusty

    (Department of Electrical and Electronics Engineering, Alliance College of Engineering and Design, Alliance University, Bengaluru 562106, India
    These authors contributed equally to this work.)

  • Omar Alrumayh

    (Department of Electrical Engineering, College of Engineering, Qassim University, Unaizah 56452, Saudi Arabia
    These authors contributed equally to this work.)

  • Abdulaziz Almutairi

    (Department of Electrical Engineering, College of Engineering, Majmaah University, Almajmaah 11952, Saudi Arabia
    These authors contributed equally to this work.)

  • Talal Alharbi

    (Department of Electrical Engineering, College of Engineering, Qassim University, Buraydah 52571, Saudi Arabia
    These authors contributed equally to this work.)

Abstract

Transactive energy is a highly effective technique for peers to exchange and trade energy resources. Several interconnected blocks, such as generation businesses, prosumers, the energy market, energy service providers, transmission and distribution networks, and so on, make up a transactive energy framework. By incorporating the prosumers concept and digitalization into energy systems at the transmission and distribution levels, transactive energy systems have the exciting potential to reduce transmission losses, lower electric infrastructure costs, increase reliability, increase local energy use, and lower customers’ electricity bills at the transmission and distribution levels. This article provides a state-of-the-art review of transactive energy concepts, primary drivers, architecture, the energy market, control and management, network management, new technologies, and the flexibility of the power system, which will help researchers comprehend the various concepts involved.

Suggested Citation

  • Neeraj Gupta & B Rajanarayan Prusty & Omar Alrumayh & Abdulaziz Almutairi & Talal Alharbi, 2022. "The Role of Transactive Energy in the Future Energy Industry: A Critical Review," Energies, MDPI, vol. 15(21), pages 1-24, October.
    • Handle: RePEc:gam:jeners:v:15:y:2022:i:21:p:8047-:d:957160
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    References listed on IDEAS

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