Abstract
In pursuit of identifying the most accurate and efficient uncertainty modelling (UM) techniques, this paper provides an extensive review and classification of the available UM techniques for probabilistic power system stability analysis. The increased penetration of system uncertainties related to renewable energy sources, new types of loads and their fluctuations, and deregulation of the electricity markets necessitates probabilistic power system analysis. The abovementioned factors significantly affect the power system stability, which requires computationally intensive simulation, including frequency, voltage, transient, and small disturbance stability. Altogether 40 UM techniques are collated with their characteristics, advantages, disadvantages, and application areas, particularly highlighting their accuracy and efficiency (as both are crucial for power system stability applications). This review recommends the most accurate and efficient UM techniques that could be used for probabilistic stability analysis of renewable-rich power systems.