Static VAR Compensator (SVC) is a conventional FACTS technology and has been a part of power grids across the globe for many decades. Advancement in power electronics switches and better control mechanisms have brought Static Synchronous Compensator (STATCOM) to life. This offers better control, is faster in response, and has a smaller footprint as compared to an SVC.
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Flexible AC Transmission Systems Market Research
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Recent Insights
Middle East and Europe Steered the Global FACTS Market in 2021
• The FACTS market has gained a lot of traction across the globe in various application verticals, especially in the renewable sector. • In 2021,...
Decommissioning of Conventional Power Plants Driving the FACTS Market
• The EU Commission has set an ambitious target for EU countries to increase their share of renewable energy to 40% of final consumption by 2030.•...
Finland’s Success with Nuclear Repository to Affect Energy Mix in Countries
According to Power Technology Research, Finland’s electricity generation installed capacity accounted for 15.16 GW in 2020. Wind and solar...