Advantages
The main advantage of SVCs over simple mechanically-switched compensation schemes is their near-instantaneous response to changes in the system voltage. For this reason they are often operated at close to their zero-point in order to maximise the reactive power correction they can rapidly provide when required.
They are, in general, cheaper, higher-capacity, faster and more reliable than dynamic compensation schemes such as synchronous condensers . However, static VAR compensators are more expensive than mechanically switched capacitors, so many system operators use a combination of the two technologies (sometimes in the same installation), using the static VAR compensator to provide support for fast changes and the mechanically switched capacitors to provide steady-state VARs.
Read more about this topic: Static VAR Compensator
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