ECONOMIC ASSESSMENT TECHNIQUES OF VOLTAGE SAGS: A REVIEW

The various survey reports reveal that the economic impacts associated with the power quality disturbances, especially due to voltage sags, were very significant and it could be millions of dollars. Therefore, to justify the investment required for the possible solution, various techniques are available to evaluate the cost of downtime associated with it. This paper presents a rigorous review of these current practices of the economic assessment of the impacts linked with voltage sags. The researches, based on the economic assessment of voltage sags impact, are divided into five categories to reveal their shortfalls. Further, the need for incorporation of the voltage profile, voltage sag characteristics, process cycle, time of the occurrence of the events, plant sensitivity to voltage sags, equipment tolerance, stochastic model, probabilistic model, etc., in the economic assessment techniques is highlighted. The main goal of this review is to reveal the need for the development of the more precise economic assessment techniques to make financial justification reliable and efficient. Furthermore, the various techniques, based on FACTs devices, to reduce the cost of downtimes are also incorporated in the discussion.