In order to solve the risk of transient voltage instability caused by the increasing proportion of new energy represented by photovoltaic (PV) and dynamic load in the power grid, a dynamic reactive power compensation device configuration method with high-permeability PV is proposed considering transient voltage stability. Firstly, a typical reactive power compensation device configuration is constructed, and evaluation indexes based on transient voltage disturbance and transient voltage peak are proposed. The static index based on complex network characteristics and the dynamic index based on sensitivity theory are used to guide the candidate nodes of dynamic reactive power compensation. Secondly, when reactive power capacity is configured, a differentiated dynamic reactive power compensation optimization model is established, and the multi-objective marine predator algorithm is used to solve the configured capacity, aiming to improve the transient voltage stability at the lowest reactive power investment cost. The final configuration scheme is selected by using the improved entropy weight ideal solution sorting method. Finally, the simulation results of the improved IEEE39-node system verify the effectiveness of the proposed method.