Involvement of cost savings and voltage stability indices in optimal capacitor allocation in radial distribution networks using artificial bee colony algorithm

•An ABC-based approach is proposed to maximise net savings of OCA.•Loss sensitivity factors are utilized for initial identification of buses.•The objective function is adapted to boost up system static voltage stability index.•Scoping the sizing of fixed and switched capacitors based on loading variations.•Minimum injected VArs in fewer placements is assured.

This article applies the artificial bee colony algorithm to define and allocate static shunt capacitors along radial distribution networks. The objective function is adapted to maximise net yearly savings and to enhance the overall system static voltage stability index with weighting and magnifying factors. Load variations have been considered to optimally size the fixed and switched capacitors required. Nodes with higher loss sensitivity factors and lower voltage stability indices are initially identified for capacitor allocations. The proposed algorithm ascertains optimal sizing and placement, and takes the final decision for optimum locations among the number of buses nominated. The realised numerical results are compared with those found by other recent heuristic methods and show that the proposed method is capable of producing high-quality solutions and validated its viability and applicability.