Renewable Energy World: Every day, the number of new power generators from renewable resources joining the world’s collective electricity grid steadily goes up. Growing at an equal pace are the people working to keep the balance between supply and demand on that collective grid. More and more, they are turning to an intelligent and interactive networked system based on economics and market mechanisms where transactions are used to manage the grid and ensure reliability and efficiency.
Companies, utilities, transmission operators, balancing authorities, government agencies and standards entities are coming together to define, simulate and demonstrate that method of transaction-based control under what they call transactive energy (TE) systems. Those systems are not pervasive in the market by any means, but it is clear that many people see them as an inevitable and critical part of the future power grid.