%0 Conference Paper %A Rajanarayan Prusty, B. %A Mohan Krishna, S. %A Bingi, K. %A Gupta, N. %D 2023 %F scholars:19180 %I Institute of Electrical and Electronics Engineers Inc. %K Electric load flow; Intelligent systems; Machine learning; Monte Carlo methods; Reliability analysis; Reliability theory, Learning Theory; Machine-learning; Over-limit probability; Photovoltaics generations; Power; Power systems reliability; Reliability assessments; Risk-based; Risks assessments; Severity, Risk assessment %R 10.1109/ICAIA57370.2023.10169796 %T Risk-Based Reliability Assessment of Modern Power Systems using Machine Learning and Probability Theory %U https://khub.utp.edu.my/scholars/19180/ %X Risk-based reliability assessment is prevalent for modern power systems under higher penetration of renewable generations. This paper highlights the importance of machine learning and probabilistic approaches for risk-based reliability assessment during power system operation and planning. A set of metrics for realistic risk-based reliability assessment considering over-limit probabilities and corresponding severities is suggested. Probabilistic load flow using Monte-Carlo simulation is used to estimate the over-limit probabilities of power system variables. A detailed presentation of steps for the generation of random samples of a set of correlated random variables, development of realistic risk metrics, and portrayal of their significances via critical result analyses for different cases is expected to serve as a reference text for novice researchers in the field of risk-based reliability assessment of modern power systems integrated with photovoltaic generations. © 2023 IEEE. %Z cited By 0; Conference of 2023 International Conference on Artificial Intelligence and Applications, ICAIA 2023 and Alliance Technology Conference, ATCON-1 2023 ; Conference Date: 21 April 2023 Through 22 April 2023; Conference Code:190534