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

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.