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Blockchain Transactive Energy and the Electric Grid
June 3 @ 12:00 pm - 1:00 pm
Transactive energy was originally proposed as an alternative to the traditional optimal control-based mechanisms for balancing supply and demand in the grid. The proposal was based on a grid architecture scenario where the grid becomes more and more decentralized, with hundreds of thousands of DERs and millions of flexible loads, making the solution of the optimal control problem increasingly intractable. Market-mechanisms such as transactive energy have been successful in many areas in balancing supply and demand, and market-mechanisms have been a pillar of the wholesale power market since the 1990s. While the original concept was premised on using a centralized database, decentralized ledgers such as blockchains provide an even better base, since they can accommodate additional participants in the business ecosystem such as aggregators while building trust between the ecosystem participants. In addition, they can be deployed in a decentralized fashion down to a single building or small community solar deployment, a deployment architecture that is well-suited to the decentralized nature of DERs and flexible loads. In this talk, we’ll briefly review the history of blockchain transactive energy (BCTE), discuss the three basic technologies underlying blockchain and distributed ledgers, and then explore some BCTE use cases that are being or could be deployed today. Co-sponsored by: IEEE PES Power and Energy Society Speaker(s): Dr. James Kempf, Agenda: 12:00 pm PDT IEEE Announcements 12:02 pm PDT Introduction of Speaker 12:04 pm PDT Presentation 12:45 pm PDT Q&A Virtual: https://events.vtools.ieee.org/m/315183