![]() ![]() The importance analysis of components is based on parametric sensitivities and binary decision diagram (BDD) representation for the FTs. ![]() We also analyze the component importance of the system, aiming to find the weak parts of the system thereby improving the system design. In this paper, a hierarchical model consisting of a layered fault tree (FT) and continuous-time Markov chains (CTMCs) is presented to model a smart grid system with two different power supply modes. Thus it is important to evaluate the availability of smarts grids and to indicate the vulnerable parts of the systems. It not only improves the power distribution systems with the techniques of distributed generation, but also makes the systems more complicated than the traditional ones. The smart grid is regarded as the next generation electrical power grid. The emergence of the smart grid has brought great innovation in the new distribution power system, facilitated a green and sustainable energy-based society, and mitigated the growing energy crisis.
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