The goal of the project to develop transactive energy systems. Transactive energy systems have emerged as a transformative solution for the problems faced by distribution system operators due to an increase in the use of distributed energy resources and rapid growth in renewable energy generation. They are tightly coupled cyber and physical systems, which require resilient and robust financial markets where transactions can be submitted and cleared, while ensuring that erroneous or malicious transactions cannot destabilize the grid. In the last five years, we have used this research vertical to drive our research in the area of resilient decentralized CPS and have developed a novel middleware platform called TRANSAX by enabling participants to trade in an energy futures market, which improves efficiency by finding feasible matches for energy trades, reducing the load on the distribution system operator. It provides privacy to participants by anonymizing their trading activity using a distributed mixing service, while also enforcing constraints that limit trading activity based on safety requirements, such as keeping power flow below line capacity. One of the key innovations in TRANSAX was the development of a novel hybrid solver concept, combining the trustworthiness of distributed ledgers with the efficiency of conventional computational platforms. This hybrid architecture ensures the integrity of data and computational results as long as majority of the ledger nodes are secure while allowing the complex computation to be performed by a set of redundant and efficient solvers. We collaborate actively with Prof. Aron Lazka, University of Houston in this project.
This project is funded in part by National Science Foundation and in Part by Siemens, CT.