Economic Evaluation of Power Electronic Reactive Power Compensation Devices in Distribution Networks with Electric Vehicles Integration

Power electronic reactive power compensation (PERC) devices are increasingly widely used in modern urban distribution networks and play a key role in maintaining grid stability and improving power quality. However, their investment involves various considerations such as procurement cost and operation and maintenance cost, and the evaluation of long-term benefits is complicated. Currently, there is a lack of a comprehensive and targeted economic evaluation model to comprehensively measure the economics of these devices. This study proposes an economic analysis method for power electronic reactive power compensation devices in urban distribution networks. A set of highly applicable economic evaluation models is constructed by comprehensively considering the procurement cost, operation and maintenance cost, and long-term benefits of the devices. Meanwhile, in order to avoid the overall constraints forming a non-convex problem, the second-order cone relaxation is adopted to obtain the optimal solutions of the model parameters. Through this study, it is expected to provide scientific basis and decision support for electric power enterprises to rationally configure and apply reactive power compensation devices in urban distribution networks.