Applications of shared economy in smart grids: Shared energy storage and transactive energy

Increasing renewable energy is integrated with power systems and more flexibility is required to address the fluctuation problems caused by renewable energy. Advanced communication and measurement technologies enable the electric grids to approach smart grids which have more solutions for the high penetration of renewable energy. The shared economy as an emerging commercial model has attracted much attention and is widely applied in smart grids. This paper is focused on the state of the art of shared energy storage and transactive energy (TE) which are the typical applications of shared economy in smart grids. The concept, market structure, and demonstration projects of shared energy storage and TE are provided.