Summary
In recent years, the penetration level of renewable energy generation units such as wave, wind, photovoltaic, and tidal power plants in the modern power systems has increased. It began in the 1970s with a sudden change in oil price and today, large‐scale power plants based on renewable resources have been put into operation. Due to large potential of wave energies, the share of these power plants is expected to increase. Hence, it is necessary to study the effect of wave energy converters on the different aspects of power systems. For this purpose, the effect of variation in the generated power of wave energy converters arising from variation in the wave height and wave period on the operation studies of power‐system must be investigated. For the first time, the impact of large‐scale wave energy converters on the operation studies of the power system is investigated, and the numerical results of the wave dragon converter as a commercial‐scale wave energy power plant are considered. For this purpose, a multistate reliability model of wave energy converters is developed considering both uncertain nature of the generated power and failures of composed components of the wave power plant. To determine the optimal reliability model of the wave generator, XB‐index is calculated and fuzzy c‐means clustering technique is utilized. Then, the proposed multistate reliability model based on the modified PJM method, which is suitable for short‐term studies, is used to perform the operation studies of the power systems containing large‐scale wave energy converters. Numerical results of the operation studies of RBTS and IEEE‐RTS including wave farms are given in the paper to study the impact of wave energy converters on the reliability‐based operation indices of the power systems.