Transactive Energy Systems

The transition of the power industry . Power grids are evolving to become smart grids. This trend is being accelerated by the further development of renewable power sources, which are increasingly penetrating the grid network. 
Transactive Energy Systems

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Abstract

Siemens White Paper: Transactive Energy Systems

The power industry is undergoing a transition. Power grids are evolving to become smart grids.   

 

This trend is being accelerated in several regions by the further development of renewable power sources, which are increasingly penetrating the grid network in the form of distributed energy resources (DER). A growing number of these DER assets are highly intermittent energy resources. Wind turbines and solar panels in particular pose a challenge when it comes to predicting and controlling supplies. Due to the merit order effect, this intermittent renewable power generation could decrease the market price of energy. However, the growing importance of volatile renewable sources in the energy mix will lead to critical situations within the power grid. Power markets have to be ready for smart grids so that they are capable of dealing with the grid-wide integration of DER assets while at the same time efficiently controlling decentralized power generation units as they transition to autonomous operating modes.   

 

The goal of this white paper is to present a possible path towards the next-generation distributed network that is easy, cost-effective and efficient thanks to greater integration of DERs. It starts by explaining our Transactive Energy vision in detail, before going on to frame an implementation proposal based on the hardware and software components. 

Develop your Transactive Energy vision with us!

We offer you a Value Co-Creation workshop with our Siemens experts to find out which challenges need to be tackled in each individual case to develop your TES vision. In doing so, Siemens reconciles three factors: the customer’s wishes and ambitions, Siemens’ own sector knowledge and technical expertise, and customer value co-creation methods and experience. The approach makes a complex process clear and finds fast solutions that are tailored and customer-validated.

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Explore our vision for a Transactive Energy system