Load modeling plays an important role in power system modeling, and the load model is an indispensable component in power system simulation. To get accurate load models and formulate a unified document, this guide has been developed to provide comprehensive policies and procedures of load modeling and simulations. A review and comparison of the two most widely used methodologies for load modeling is presented in this document, that is, the measurement based and component-based approaches. A critical and updated overview of opportunities and challenges of load modeling with emerging networks and components is also provided. The guidelines for power system simulation with a variety of load models are proposed. A case study adhering to the proposed guidelines clearly indicates the need for a hybrid approach in the future that will combine the strengths of the measurement-based and component-based approaches with the data acquisition capabilities offered by modern measurement equipment. |