A novel approach for optimum allocation of FACTS devices using multi-objective function

This paper presents a novel approach to find optimum type, location, and capacity of flexible alternating current transmission systems (FACTS) devices in a power system using a multi-objective optimization function. Thyristor controlled series compensator (TCSC) and static var compensator (SVC) are utilized to achieve these objectives: active power loss reduction, new introduced FACTS devices cost reduction, increase the robustness of the security margin against voltage collapse, and voltage deviation reduction. The operational and controlling constraints as well as load constraints are considered in the optimum allocation procedure. Here, a goal attainment method based on simulated annealing is used to approach the global optimum. In addition, the estimated annual load profile has been utilized to the optimum siting and sizing of FACTS devices to approach a practical solution. The standard IEEE 14-bus test system is used to validate the performance and effectiveness of the proposed method.