Local Energy Market

Local energy markets aim to optimize the distribution and consumption of energy within localized communities, primarily by coordinating distributed energy resources (DERs) like solar panels and batteries. Current research focuses on developing efficient algorithms, such as deep reinforcement learning and graph neural networks, to manage these markets and allocate resources effectively, often within the framework of transactive energy systems. These systems improve grid stability by reducing net load variability and offer economic benefits to both individual consumers and the wider community, demonstrating significant potential for accelerating the transition to sustainable energy. The use of explainable AI techniques is also gaining traction to enhance the transparency and reliability of these systems.