Application of transactive energy system framework in voltage regulation services

With the penetration of small-scale photovoltaic (PV) with/without battery storage systems and the advancement in the inverter design, the idea of providing voltage regulation services to the power system through power flow adjustment has gained much attention.

As such, the transactive energy framework is becoming very popular as a promising approach to achieve economic benefits and power system stability simultaneously via both active and reactive energy trading.

This project aims to develop transactive mechanisms for prosumers to manage the power flow of the equipped flexible loads, PV inverters, and battery inverters. The proposed transactive mechanisms will be modelled as multi-agent optimization problems, in which each participant is selfishly pursuing minimum cost.

The voltage regulation interfaced energy management scheme will be applied both in grid-connected microgrids with multiple prosumers, and distribution systems.

The project is expected to analyse the financial impact of power flow adjustment on voltage regulation services comprehensively, and the potential of demand-side participation in both energy markets and ancillary service markets will be fully exploited.

Collaborators: Professor Yong Li, Hunan University, Changsha 410082