The ever-growing adverse impacts of climate change have affected the economy, society and daily lives globally. Reducing greenhouse gas (GHG) emissions in all industries has been recognized as one of the key solutions to combat climate change issues. As the electricity generation sector contributes to about one-quarter of total GHG emissions in 2022 [1], [2], decarbonization has been on top of the agenda of power companies and shaping the future of electrical grid systems. Along with the mandate of decarbonization, the transformation of electrical grid systems is globally underway due to increased requirements to interconnect additional generating [3] and load resources [4]. The mega trends in the electricity industry have been observed worldwide, as highlighted in the following.
The penetration of renewable-energy-based generation into grids has been increasing via large power plants at the transmission level and small distributed generation units. This trend has been fueled by decarbonization incentives, new investments, and rapid cost reduction of solar, wind and energy storage systems, and enabled by the advancement in power electronic technologies. Renewable energy sources (mainly hydro, wind, solar and bioenergy) accounted for 29% of global electricity generation in 2022 [3].
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