Power electronic equipments can promote the power system to change towards sustainable development and intellectualization.The main application of these equipments in the power system is described with respect to power generation，energy storage，microgrid，electricity transmission，and power quality.Research on reliability assessment，fault operation and management，hardware-in-the-loop simulation and the power electronics building block is reviewed from the perspective of increasing reliability，security，economy and standardization of these equipments.Finally，related urgent problems to be solved are elaborated.