Affiliation:
1. National Institute of Technology Puducherry, India
Abstract
The dynamic and complicated nature of traditional energy networks has been altered due to the growing integration of renewable energy sources and the introduction of smart grid technology. Renewable energy sources, particularly rooftop photovoltaics, pose technical challenges to traditional grid management due to their intermittent power generation capability. Transactive energy management has become a viable approach to optimize energy usage and improve grid dependability in this dynamic environment. One of the main goals of this chapter is to assess how transactive energy management affects the system's overall efficiency, use of renewable energy sources, and grid stability, and evaluate how well energy trading platforms promote a robust and decentralized energy market. The chapter uses case studies and data analysis to evaluate the effectiveness of energy trading platforms. The research results offer a thorough grasp of the synergies between centralized energy trading and transactive energy management, which advances the field of smart energy systems.