Abstract
The objective of this paper is to explore the efficacy of applying risk-based security assessment (RBSA) to define reliability standards for electricity grids with high penetration of converter-interfaced generation. A novel approach to estimate the impact of transient instability is presented in this paper by modeling several important protection systems in the transient stability analysis. In addition, a probabilistic model is developed to capture the uncertainty of increased converter-interfaced renewable penetration. A synthetic test case is derived from a realistic power system to verify the proposed method. The simulation results show that RBSA not only provides significantly relaxed security limits, but also helps in identifying critical aspects of system reliability that are not possible using conventional deterministic methods.
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