Transactive energy markets hold the promise to achieve economic efficiency and reliability across the bulk power system and distribution networks. This research area was identified in the Caltech Resnick Sustainability Institute’s Grid2020 report released last fall, and was the topic of the third discussion of the series in April 2013.
>Significant untapped potential exists to leverage a new class of flexible mixed distributed assets (e.g., distributed generation, responsive demand, storage, power electronics and electric vehicles), what has been called DR 2.0, to manage the power system. But, this requires changes in both market designs and grid operations. […]
Current wholesale market rules are significant barriers to participation as they effectively do not distinguish a 500 MW power plant from a 5kW electric vehicle battery. This is very unfortunate, as the technology to tap these smaller resources and create significant value for customers is available today. Heather Sanders, Director, DER Policy at CAISO shared that, “a challenge is to create market participation rules that meet operators’ needs for reliability, but also facilitate customer value opportunities.” <
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