Towards Transactive Energy: An Analysis of Information-related Practical Issues

TL;DR

This paper reviews practical information exchange issues in transactive energy markets, highlighting challenges like asynchronous computing, truthful reporting, and privacy, and suggests future research directions for building effective decentralized energy systems.

Contribution

It provides a comprehensive survey of practical information-related challenges in transactive energy markets and integrates multidisciplinary theories to guide future research.

Findings

Summarizes state-of-the-art solutions for asynchronous computing.

Analyzes methods for ensuring truthful reporting in energy markets.

Discusses privacy preservation techniques in decentralized energy exchanges.

Abstract

The development of distributed energy resources, such as rooftop photovoltaic (PV) panels, batteries, and electric vehicles (EVs), has decentralized our power system operation, where transactive energy markets empower local energy exchanges. Transactive energy contributes to building a low-carbon energy system by better matching the distributed renewable sources and demand. Effective market mechanisms are a key part of transactive energy market design. Despite fruitful research on related topics, some practical challenges must be addressed. This review surveys three practical issues related to information exchange in transactive energy markets: asynchronous computing, truthful reporting, and privacy preservation. We summarize the state-of-the-art results and introduce relevant multidisciplinary theories. Based on these findings, we suggest several potential research directions that could provide insights for future studies.