Reduced Order Model of Transactive Bidding Loads

Transactive energy (TE) has been identified to provide better grid efficiency and reliability by market-based transactive exchanges between energy producers and energy consumers. Simulations of TE systems are crucial to evaluate the benefits and impacts of different transactive mechanisms. However, such simulations can be time consuming due to the information exchange between various participants and complex co-simulation environments. In this paper, we develop a reduced order model to speed up the simulation of transactive systems in TE simulation platform (TESP) while achieving very low error between the reduced order and full model results. Specifically, the developed reduced order model consists of an aggregate responsive load agent which utilizes two Recurrent Neural Networks (RNNs) with Long Short-Term Memory units (LSTMs) to enable transactive elements to collectively participate in the TE system. The proposed aggregate responsive load (ARL) agent is able to produce similar transactive behaviors to the full simulation model while achieving significant simulation time reduction. We also show that the developed model enables generalization of simulation results across different dates and across different number of loads included in the simulations.