ABSTRACT
Many believe that smart energy resources, whether they are DERs (distributed energy resources—distributed generation, energy storage, and electric vehicle-to-grid supply), demand response (DR) programs, or utility connected resources, may best be fully harnessed and monetized through transactive energy (TE) frameworks. The ultimate aim of smart grid and TE is to provide a plug-and-play architecture that enables DERs, smart applications, software, and services to transact energy via an interactive, open-access platform. TE has been defined by the Gridwise Architecture Council as follows:
A system of economic and control mechanisms that allows the dynamic balance of supply and demand across the entire electrical infrastructure using value as a key operational parameter.
