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Power electronic converters will serve as the fundamental components of modern power systems. However, they may suffer from poorer reliability if not properly designed, consequently affecting the overall performance of power systems. Accordingly, the converter reliability should be taken into account in design and planning of Power Electronic-based Power Systems (PEPSs). Optimal decision-making in planning of PEPSs requires precise reliability modeling in converters from component up to syste

This article aims to incorporate the reliability model of power electronic converters into power system reliability analysis. The converter reliability has widely been explored in device- and converter-levels according to physics of failure analysis. However, optimal decision-making for design, planning, operation, and maintenance of power electronic converters require system-level reliability modeling of power electronic-based power systems. Therefore, this article proposes a procedure to eva