Integration of Distributed Resources in Smart Grids for Demand Response and Transactive Energy: A Case Study of TCLs

The proliferation of renewable energy enhances the sustainability of power systems, but the inherent variability also poses great challenges to the planning and operation of large power grids. The corresponding electric power deficiencies can be compensated by fast ramping generators and energy storage devices. However, frequent ramp up/down power adjustments can increase the operation and the maintenance cost of generators. Moreover, storage devices are regarded as costly alternatives. Dem...