| Summary: | With the modernization of power grids, the network optimal utilization is essential to ensure that voltage profile at each bus is maintained within an acceptable range, voltage stability of the system is enhanced, power losses in lines are minimized, reliability and security of system are improved and etc. These can be achieved by introducing reactive power compensation devices such as Flexible Alternating Current Transmission System (FACTS) devices, Custom Power (CP) devices, synchronous condenser, capacitor bank and etc in distribution or transmission networks. Optimal location and sizing of the reactive power compensation devices are significantly important to ensure sufficient investment onto this device. Recently, most of conducted studies had focused on the techniques for determining the optimal location and sizing of various reactive power compensation devices in the power system using various indices proposed in the literature to access the power loss, voltage stability, voltage profile and line loadability. However, no review paper had discussed on the application of the existing indices adopted in the available techniques for solving the optimal location and sizing problems for all types of reactive power compensation devices. In this paper, current literature survey on optimal location and sizing of reactive power compensations had been discussed which includes analytical, conventional, metaheuristic and hybrid based approaches. The main objectives are to reduce power losses, to mitigate voltage deviations, to increase voltage stability and to improve reliability and security of the system.
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