ABSTRACT Power systems have become central pillars of modern society. Various uncertainties in power systems, however, make reliability analysis difficult. To date, the worst-case scenario was usually employed to tackle uncertainties in the system, which could make the overall system design prohibitively expensive especially when more and more uncertainty sources would be considered in modern power grids. This paper proposes reliability analysis of power systems under the time-dependent load uncertainty using an effective uncertainty quantification (UQ) method, i.e., the eigenvector dimension reduction (EDR) method. As such, reliability can be explicitly calculated in the probability manner for meeting the performance constraints without significantly overdesigning the system. Compared to the Monte Carlo simulation (MCS), the EDR method is much more efficient with satisfactory accuracy. Two case studies, including a 12-bus and a modified IEEE 118-bus power system, are used to demonstrate the feasibility of the proposed work.
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