The Evolution of the Multitier Hierarchical Energy Market Structure: The emergence of the transactive energy model

Over the last 10 years, a combination of policy directives and technological advances has led to a rapid and significant addition of distributed energy resources (DERs), such as renewable energy source (RES) generation, demand response (DR), storage, and electric vehicles (EVs), into the distribution grid and behind the meter (BTM) in many power systems around the world. At the same time, the Inte...