A novel transactive energy framework for prosumers with battery storage and electric vehicles

This paper presents a transactive energy (TE) control of residential home battery energy storage systems that compensates residential prosumers for the rescheduling of the charging and discharging of their batteries. The proposed TE framework is evaluated in terms of the annual distribution transformer loss of life reduction and the economic cost to the distribution system operator considering the effect of prosumers owning plug-in electric vehicles with consideration of both time-of-use (TOU) and distributed locational marginal pricing (DLMP) schemes. The results have shown that in case of DLMP pricing the distribution transformer's aging was almost doubled when compared to TOU pricing schemes. Moreover, the application of the proposed TE framework results in extending the lifetime of the distribution transformers under both pricing schemes. Further results have shown that the cost to the electric utility to perform control action is nearly double when using TOU pricing rates versus the rates based on the DLMP pricing. Finally, the annual active power losses in the system were reduced through the proposed TE control framework by up to 2% in the case of DLMP pricing.