A Transactive Energy Approach to Distribution System Design: Household Formulation

dc.contributor.author Battula, Swathi
dc.contributor.author Tesfatsion, Leigh
dc.contributor.author Wang, Zhaoyu
dc.contributor.department Department of Economics (LAS)
dc.date 2019-12-05T22:17:23.000
dc.date.accessioned 2020-06-30T02:14:30Z
dc.date.available 2020-06-30T02:14:30Z
dc.date.embargo 2019-07-01
dc.date.issued 2019-12-05
dc.description.abstract <p>A household model is formulated to facilitate careful development and performance testing of bid-based transactive energy system (TES) designs with voluntary customer participation. The optimal general bid-function form for households with thermostatically controlled loads is derived from dynamic programming principles, based solely on general household thermal dynamic and welfare attributes. Quantitative forms are determined for these optimal bid functions, given quantitative forms for these attributes. These quantitative attributes are used to construct representative household types based on clusterings of correlated parameter values. Bid comparison, peak-load reduction, and load-matching test cases conducted for a 123-bus distribution system operating under a generic bid-based TES design illustrate the usefulness of our methods for ensuring TES designs are aligned with local customer goals and constraints.</p>
dc.description.comments This working paper is published as S. Battula, L. Tesfatsion and Z. Wang, "A Customer-Centric Approach to Bid-Based Transactive Energy System Design," in IEEE Transactions on Smart Grid, vol. 11, no. 6, pp. 4996-5008, Nov. 2020, doi: 10.1109/TSG.2020.3008611.
dc.format.mimetype application/pdf
dc.identifier archive/lib.dr.iastate.edu/econ_workingpapers/75/
dc.identifier.articleid 1074
dc.identifier.contextkey 14837455
dc.identifier.s3bucket isulib-bepress-aws-west
dc.identifier.submissionpath econ_workingpapers/75
dc.identifier.uri https://dr.lib.iastate.edu/handle/20.500.12876/22698
dc.relation.ispartofseries 19010
dc.source.bitstream archive/lib.dr.iastate.edu/econ_workingpapers/75/19010.pdf|||Fri Aug 23 12:04:08 UTC 2019
dc.source.bitstream archive/lib.dr.iastate.edu/econ_workingpapers/75/19010_revision_1.pdf|||Sat Jan 15 01:49:29 UTC 2022
dc.subject.disciplines Behavioral Economics
dc.subject.disciplines Econometrics
dc.subject.disciplines Power and Energy
dc.subject.disciplines Statistical Models
dc.subject.keywords Customer-centric design
dc.subject.keywords bid-based transactive energy system
dc.subject.keywords optimal household bid function
dc.subject.keywords household thermal dynamics
dc.subject.keywords household welfare
dc.subject.keywords household representative types
dc.subject.keywords test-case performance evaluation
dc.title A Transactive Energy Approach to Distribution System Design: Household Formulation
dc.type working paper
dc.type.genre working paper
dspace.entity.type Publication
relation.isAuthorOfPublication 1b45fd18-54a5-46e7-a853-62262cd64b39
relation.isOrgUnitOfPublication 4c5aa914-a84a-4951-ab5f-3f60f4b65b3d
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