Unlocking the value of flexibility of behind-the-meter prosumers: An overview of mechanisms to esteemed trends

Abstract

Behind-the-meter (BTM) resources is being recognized as a viable solution to offer grid services including flexibility procurement which is required for volatile renewable power systems. This paper brings an overview of current and esteemed frameworks and respective challenges revolving around BTM flexibility notion and mechanisms. To begin with, we review grid architectures, e.g., microgrids and virtual power plants, capable of accommodating BTM flexibility and desirable flexibility market designs, including peer-to-peer trading. The role of machine learning initiatives, including reinforcement learning and probabilistic forecasting, in designing reliable energy management systems is extensively deliberated. Last but not least, supplementary discussions in making this concept a reality, which can be regarded as future research, are given.