Shunt capacitor renewal planning with a cost leveling strategy using the condition age model

With the past high economic growth period in Japan, the power demand has been increasing sharply year by year. Therefore, the Japanese utilities have installed many Shunt Capacitors (SCs) along with the predicted demand in order to keep the voltage profile and stability. Meanwhile, some SCs have aged because they have been used for a long time, and thus, have to be replaced sometime soon. Recently, the usage of the concept of asset managements has been paid attention as economic evaluation techniques in the power system. Therefore we propose a new renewal planning method with cost leveling during the renewal period using the condition age model.