A system comprising a compensation device for connection to a bus of a power system, the compensation device comprising: multiple portions (147,149,151), each of the multiple portions (147,149,151) comprising: at least one electrical element comprising one or more components that, taken together, have either an overall capacitive output or an overall inductive output; and a solid-state switching device electrically connected, in parallel, with the at least one electrical element such that closing the solid-state switching device substantially prevents current flow to the at least one electrical element, wherein the solid-state switching device comprises a thyristor and is configured to close in response to a system contingency; wherein at least one portion of the compensation device further comprises a mechanical bypass switch electrically connected in parallel to the solid state switching device and the at least one electrical element, wherein the solid-state switching device is configured to close within one cycle to short circuit the at least one electrical element, the mechanical bypass switch is configured to close after the solid-state switching device is closed, and the solid-state switching device is configured to open after the mechanical bypass switch is closed; the system being characterized in that the system further comprises a monitor configured to monitor current flow through the thyristor; and wherein the monitor is configured to provide a signal to cause the mechanical bypass switch to close when current flows through the thyristor. multiple portions (147,149,151), each of the multiple portions (147,149,151) comprising: at least one electrical element comprising one or more components that, taken together, have either an overall capacitive output or an overall inductive output; and a solid-state switching device electrically connected, in parallel, with the at least one electrical element such that closing the solid-state switching device substantially prevents current flow to the at least one electrical element, wherein the solid-state switching device comprises a thyristor and is configured to close in response to a system contingency; wherein at least one portion of the compensation device further comprises a mechanical bypass switch electrically connected in parallel to the solid state switching device and the at least one electrical element, wherein the solid-state switching device is configured to close within one cycle to short circuit the at least one electrical element, the mechanical bypass switch is configured to close after the solid-state switching device is closed, and the solid-state switching device is configured to open after the mechanical bypass switch is closed; at least one electrical element comprising one or more components that, taken together, have either an overall capacitive output or an overall inductive output; and a solid-state switching device electrically connected, in parallel, with the at least one electrical element such that closing the solid-state switching device substantially prevents current flow to the at least one electrical element, wherein the solid-state switching device comprises a thyristor and is configured to close in response to a system contingency; wherein at least one portion of the compensation device further comprises a mechanical bypass switch electrically connected in parallel to the solid state switching device and the at least one electrical element, wherein the solid-state switching device is configured to close within one cycle to short circuit the at least one electrical element, the mechanical bypass switch is configured to close after the solid-state switching device is closed, and the solid-state switching device is configured to open after the mechanical bypass switch is closed; the system being characterized in that the system further comprises a monitor configured to monitor current flow through the thyristor;