According to the traveling-wave theory, this paper presents a new busbar protection algorithm based on the comparison of the initial traveling wave power. The algorithm analyzes the distribution characteristics of the initial traveling wave when internal and external busbar faults occur and calculates the traveling wave reactive power of multiple sampling points of the initial traveling wave based on S-transform. And, accordingly, the concept of integrated reactive power is proposed. The protection criterion is established based on the comparison of the initial traveling wave integrated reactive power magnitude of each associated transmission line connected to the busbar. When an internal busbar fault occurs, the initial traveling wave integrated reactive power of each associated transmission line connected to the busbar is infinitesimally small and approximately equal; when an external busbar fault occurs, the initial traveling wave integrated reactive power of the faulted transmission line connected to the busbar exists and the values are much larger than that of the non-faulted transmission lines. By comparing the relative magnitudes of the initial traveling wave integrated reactive power of each associated transmission line connected to the busbar, a clear distinction between internal and external busbar faults can be made. Theoretical analysis, along with simulation experiments, indicates that the proposed method of performance assessment for busbar protection is sensitive, reliable, quick to respond, and easy to distinguish, and would not be affected by the influence of fault initial angles, fault types, transitional resistances, and other factors.Hao Wu (Non-member) received the Ph.D. degree in the automation of electric power systems from Southwest Jiaotong University, Chengdu, China, in 2016. He is presently an Associate Professor with the School of Automation and Information Engineering, Sichuan University of Science and Engineering, Zigong, China. His research interests include power system protection and control and power systems simulation and modeling.Xingxing Dong (Non-member) received the B.Sc. degree in electrical engineering and automation from the