Electricity Markets in the Context of Distributed Energy Resources and Demand Response Programs: Main Developments and Challenges Based on a Systematic Literature Review

Vinicius Braga Ferreira da Costa (), Gabriel Nasser Doyle de Doile, Gustavo Troiano, Bruno Henriques Dias, Benedito Donizeti Bonatto, Tiago Soares and Walmir de Freitas Filho
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Vinicius Braga Ferreira da Costa: Institute of Electrical Systems and Energy, Federal University of Itajuba, Itajuba 37500-903, Brazil
Gabriel Nasser Doyle de Doile: Institute of Electrical Systems and Energy, Federal University of Itajuba, Itajuba 37500-903, Brazil
Gustavo Troiano: Institute of Electrical Systems and Energy, Federal University of Itajuba, Itajuba 37500-903, Brazil
Bruno Henriques Dias: Electrical Energy Department, Federal University of Juiz de Fora, Juiz de Fora 36036-900, Brazil
Benedito Donizeti Bonatto: Institute of Electrical Systems and Energy, Federal University of Itajuba, Itajuba 37500-903, Brazil
Tiago Soares: Energy Systems Center, Institute of Systems and Computer Engineering, Technology and Science, 4200-465 Porto, Portugal
Walmir de Freitas Filho: Faculty of Electrical and Computing Engineering, State University of Campinas, Campinas 13083-852, Brazil

Energies, 2022, vol. 15, issue 20, 1-43

Abstract: Distributed energy resources have been increasingly integrated into electrical grids. Consequently, electricity markets are expected to undergo changes and become more complex. However, while there are many scientific publications on the topic, a broader discussion is still necessary. Therefore, a systematic literature review on electricity markets in the context of distributed energy resources integration was conducted in this paper to present in-depth discussions on the topic, along with shedding light on current perspectives, the most relevant sources, authors, papers, countries, metrics, and indexes. The software R and its open-source tool Bibliometrix were used to perform the systematic literature review based on the widely recognized databases Web of Science and Scopus, which led to a total of 1685 articles after removing duplicates. The results demonstrate that demand response, renewable energy, uncertainty, optimization, and smart grid are the most-used keywords. By assessing highly impactful articles on the theme, emphasis on energy storage systems becomes clear compared to distributed generation and electric vehicles. However, electric vehicles draw attention in terms of citations. Furthermore, multi-level stochastic programming is the most-applied methodology among highly impactful articles. Due to the relevance of the demand response keyword, this paper also conducts a specific review on the topic aligned with electricity markets and distributed energy resources (296 articles). The results demonstrate that virtually all high-impact publications on the topic address day-ahead or real-time pricing. Based on the literature found, this paper presents a discussion on the main challenges and future perspectives related to the field. The complexity of electrical power systems and electricity markets is increasing substantially according to what this study found. Distributed generation development is already advanced, while energy storage systems and electric vehicles are limited in many countries. Peer-to-peer electricity trading and virtual power plant are newer concepts that are currently incipient, and DR programs showcase an intermediate stage of evolution. A particular lack of research on social issues is verified, and also a lack of all-encompassing studies that address multiple interconnected topics, which should be better addressed in the future. The in-depth assessment carried out in this paper is expected to be of high value to researchers and policy-makers and facilitate future research on the topic.

Keywords: demand side management; distributed energy system; distributed generation; electric vehicles; smart markets; energy storage systems; comprehensive literature review (search for similar items in EconPapers)
JEL-codes: Q Q0 Q4 Q40 Q41 Q42 Q43 Q47 Q48 Q49 (search for similar items in EconPapers)
Date: 2022
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (2)

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