Multi-Converter System Modelling in Cost for Reliability Studies

Designing a system with a certain level of reliability often impacts its cost. This parameter is even more affected for a system with increased installation rate of failure-prone power electronics. Thus, reliability of converters plays key role in multi-converter system reliability and related economic profitability. In this paper, an economic model considering the power electronics reliability cost and power system reliability cost in planning of multi-converter system is presented. A case study including the impact analysis reveals that a multi-converter system cost excluding the two reliability-related costs can be significantly underestimated during system planning. Thus, the cost studies including the two reliability domains are necessary in order to avoid the non-optimal design of future multi-converter systems.