Transaction Based Energy Systems
tools for improving energy efficiency in buildings
Buildings are increasingly technologically sophisticated; however, a transaction approach and platform to coordinate energy systems allowing building owners and grid service providers to participate in a shared energy economy that efficiently utilizes and conserves resources, as well as deliver energy-efficiency services, has yet to be attained.
homes & commercial buildings account for 40 % of primary energy consumption
Transaction Energy integrates the concepts of transaction-based energy and transaction-based control with a market platform whereby:
transactions are negotiated exchanges of products, services, and rights enabling value allocations;
controls are means of executing transactions through automatic control of building equipment and other energy systems in response to data and value streams;
applications include capabilities, such as mobility, communications, autonomy and self-organization. Transaction-based energy is a structure that combines information, data and energy infrastructure to enable energy-based transactions and services for energy providers and customers and balance all energy needs against available resources.
Transaction-based frameworks describe the digital infrastructure, hardware and communications network that enables the trade of goods and services between participating parties, leading to a better use of available resources and a more efficient power system.
Building diagnostic and controls, primarily in the commercial buildings sector, are being developed and deployed, with application-based systems implementing strategies, that increase efficiency levels while improving resource allocation. Building controls and algorithms can also be part of retrofits in existing buildings, resulting in energy savings over time through improved operation and maintenance.
Transaction-based controls provide specific advice for occupants willing to trade comfort and convenience by adjusting thermostat settings by letting temperatures fluctuate within a predetermined band and getting compensated for the change:
End-user services include building diagnostics and valuations, which support the operations and maintenance of end-use assets while managing overall customer comfort and convenience.
Market services support the efficient utilization of resources and assets by helping customers modify their energy consumption behavior through mechanisms such as time-of-use and real-time pricing.
Grid services include ancillary or regulatory services, such as equipment power quality related performance modification that buildings could provide using transaction mechanisms, with compensation through new contracts or tariffs.
Social services may include participation in energy efficiency or emissions cap-and-trade markets using transaction mechanisms.
Energy Management for Small and Medium-sized Buildings