Transactive energy for low voltage residential networks: A review

Transactive Energy (TE) is envisaged as an advanced demand response (DR) variant to leverage the flexibility of distributed energy resources (DERs) for enhancing balance and network management in modern power systems. However, there have been limited implementations TE frameworks low voltage (LV) residential networks capture underutilised potential DER-equipped prosumers. The main purpose this paper identify rationale behind gap light recent advances TE-based networks. As such, first, we motivation significance evolution framework from traditional DR schemes by reviewing their relative efficacies utilising demand-side DER-rich local management. Second, provide overview key components that are essential facilitate active negotiation trading Third, review state-of-the-art methodologies industry projects utilised Finally, several challenges relevant LV identified followed some concluding remarks at end paper. • Demand analysed transactive rationalised. A comprehensive presented. State-of-the-art grid-supporting models surveyed. Key applications identified.