Equipment failure rate in electric power distribution networks: An overview of concepts, estimation, and modeling methods

Abstract

The evolution of the organizational attitudes regarding strategic management of system physical assets and the emergence of new technologies call for special attention to maintenance and reliability. State-of-the-art literature suggested a number of techniques and strategies for estimating the equipment failure rates; however, paralyzed by lack of real-world data, existing literature mostly relied on simplifications that may bring about unique challenges and result in low-accuracy estimations. This paper reviews the existing literature in estimating and modeling the failure rate of power system equipment. The review includes the existing models and the ongoing research on degradation, prognostic and estimation of remaining useful life of the system equipment. The advantages, limitations, and applications of the subject are explored in detail enabling new pathways for future research.