| Summary: | Climate change and energy security are the key drivers for energy transition worldwide. As the impact of burning fossil fuels on our environment and public health as well as rising in energy demand grows into a global concern, renewable energy plays imperative roles in the transformation. Coupled with low-carbon technologies that are now becoming more efficient and economical, many electricity regulators worldwide decided to embrace small-scale renewable energy called distributed energy resources (DERs) close to demand in order to enhance the traditional electric power grid. Various hybrid DER solutions with battery storage and demand response have been proposed in a microgrid system to improve electrification and the reliability of power system. Furthermore, the cost of renewable electricity generation that has been continuously falling has triggered the fast development of the technologies in the market. With the support of effective policy and regulatory frameworks and innovative business models, renewable energy will be significantly growing to shape energy security. In the future, trading of excess solar electricity on consumers' rooftop or electric vehicle with the neighborhood at a competitive price will be the new way of living. The deployment of peer-to-peer energy trading, virtual power plant, and carbon pricing scheme will be moving forward to drive the uptake of the clean energy technologies for sustainable electricity industry. © 2022 Elsevier Inc. All rights reserved.
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