Supply security, quality and reliability are the main systemic concerns in modern electricity networks. Fundamentally, these systemic concerns are the consequences or manifestations of several subsystem/component level problems: voltage regulation, power factor correction, and power quality problems. If these subsystem level problems were effectively resolved rather than compensated for, the systemic issues would disappear or become insignificant.
Power quality has become a major concern for both utilities and consumers due to increased penetration of non-conventional energy resources and proliferation of voltage-sensitive devices. Power quality disturbances can result in equipment damage, process shutdown, heavy downtime, production loss, etc. Industries incur millions of dollars every year, due to various power quality disturbances. For instance, the estimated annual economic loss due to power quality problems is about $119 billion to $188 billion in the USA , and € 150 billion in Europe .
Voltage swells are one of such power quality disturbances, represented by a short duration increase in supply voltage above the acceptable limits. Voltage swells can disrupt the operation of various equipment, ranging from consumer electronic devices and sensitive medical apparatus to a production/process-line of a manufacturing plant, leading to millions of dollars of industrial revenue loss. Although utilities seek to implement preventive and corrective actions, it is not possible to eliminate the occurrence of power quality disturbances completely. Current mitigating technologies are limited to specific power quality problems, and their wide adoption would be economically unsustainable.
Faraday Grid Limited (Faraday) has developed an entirely new technology , the Faraday Exchanger – a single device, which comprehensively resolves most power quality problems and fits seamlessly into the existing infrastructure. When deployed in a network, Faraday Exchangers ensure maximally efficient and reliable operation of the electricity system.
To demonstrate the voltage swell-resolution capability of the Faraday Exchanger compared to a transformer, the Faraday team conducted laboratory experiments. For a thorough review and analysis, access the Resolution of Voltage Swells by the Faraday Exchanger white paper here (PDF).
 Technical and Economic Considerations for Power Quality Improvements, Final Report, EPRI, Palo Alto, CA, 2001. Product ID 1005910.
 J Manson, R Targosz. European power quality survey report. Leonardo Energy Initiative, Nov. 2008.
 Faraday Exchanger, Faraday Grid Ltd (Online): http://www.faradaygrid.com/