Driven by the Goals of Clean Energy and Zero Carbon Emissions, the Power Industry is Undergoing Significant Transformations. the Rapid Growth of Diverse Distributed Energy Resources (DERs) at Grid Edge Such as Rooftop Photovoltaics (PVs) and Electric Vehicles is Transforming the Traditional Centralized Power Grid Management to a Decentralized, Bottom-Up, and Localized Control Paradigm. Establishing Local and Distribution-Level Electricity Markets Provides an Effective Solution to Managing Large Amounts of Small-Scale DERs. New Regulations Such as the Recent FERC Order 2222 in the U.S. Open the Door to DERs in the Wholesale Markets. through Coordinating the Local and Distribution-Level Markets with the Transmission-Level Wholesale Market, the DERs and Prosumers Can Trade Energy and Flexibility Locally with Each Other and Meanwhile Provide Energy, Flexibility and Ancillary Services to the Bulk Power Grid. during This Transition, There Are Many New Technical Challenges to Address, Calling for Innovative Ideas and Interdisciplinary Research in This Promising Direction. Advanced Information and Communication Technologies (ICT) Are Needed, as a Key Enabler, for the Development and Practical Implementation of Local and Distribution Electricity Markets. Research into Local and Distribution Markets is Strongly Interdisciplinary, Involving the State of the Art in Power Engineering, Economics, and Digital/information Technology. a Broad Spectrum of Contributors from Universities, Industry, Research Laboratories and Policy Makers is Sought to Develop and Present Solutions and Technologies that Will Facilitate and Advance Practical Applications and Implementations of Local and Distribution-Level Electricity Markets to Uncover the Values of DERs.
R. Bo et al., "Special Section on Local and Distributed Electricity Markets," IEEE Transactions on Smart Grid, vol. 14, no. 2, pp. 1347 - 1352, Institute of Electrical and Electronics Engineers, Mar 2023.
The definitive version is available at https://doi.org/10.1109/TSG.2022.3228852
Electrical and Computer Engineering
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01 Mar 2023