A static synchronous compensator configured to be installed in and provide reactive power to a medium voltage electric distribution system, comprising: An enclosure having an interior region and an external surface; A multi-level cascaded H-bridge converter, contained in the interior region of the enclosure, having a nominal operating voltage at a medium voltage level, where a medium voltage level is in the range of approximately 1 kV to approximately 35 kV AC, and having an input and an output; A first electrical bushing on the external surface of the enclosure having a first end configured to be connected to a first phase of the medium voltage electric distribution system and a second end connected to the input of the multi-level CHB converter; A second electrical bushing on the external surface of the enclosure having a first end configured to be connected to one of ground, floating ground, or a second phase, and a second end connected to the output of the multi-level CHB converter; A cooling system configured to circulate a cooling fluid in the interior of the enclosure to cool the multi-level CHB converter; wherein the cooling system is configured to passively circulate the cooling fluid in the interior of the enclosure by way of natural convection cooling; A controller configured to control the multi-level CHB converter to output reactive power to the medium voltage electric distribution system at a medium voltage level; wherein the cooling system includes a heat exchanger, in fluid communication with the interior region of the enclosure, and wherein the cooling system is configured to circulate the cooling fluid between the heat exchanger and the interior of the enclosure by way of natural convection cooling to cool the multi-level CHB converter wherein the multi-level CHB converter comprises a plurality of discrete components positioned in a vertical direction in the interior region of the enclosure such that they have a heat density weighted average center at a first height along the vertical direction in the interior region of the enclosure; wherein the heat exchanger having a vertical cooling average center at a second height along vertical direction in the interior region of the enclosure; and wherein the first height of the heat density weighted average center is below the second height of the vertical cooling average center of the heat exchanger in order to sustain flow of the cooling fluid between the enclosure and the heat exchanger through natural convection; and wherein the plurality of discrete components comprises a plurality of capacitors, a plurality of inductors, and a plurality of semiconductor switches, and wherein the plurality of capacitors are positioned at a height along the vertical direction which is greater than the height along the vertical direction of the plurality of inductors, and the plurality of semiconductor switches. An enclosure having an interior region and an external surface; A multi-level cascaded H-bridge converter, contained in the interior region of the enclosure, having a nominal operating voltage at a medium voltage level, where a medium voltage level is in the range of approximately 1 kV to approximately 35 kV AC, and having an input and an output; A first electrical bushing on the external surface of the enclosure having a first end configured to be connected to a first phase of the medium voltage electric distribution system and a second end connected to the input of the multi-level CHB converter; A second electrical bushing on the external surface of the enclosure having a first end configured to be connected to one of ground, floating ground, or a second phase, and a second end connected to the output of the multi-level CHB converter; A cooling system configured to circulate a cooling fluid in the interior of the enclosure to cool the multi-level CHB converter; wherein the cooling system is configured to passively circulate the cooling fluid in the interior of the enclosure by way of natural convection cooling; A controller configured to control the multi-level CHB converter to output reactive power to the medium voltage electric distribution system at a medium voltage level; wherein the cooling system includes a heat exchanger, in fluid communication with the interior region of the enclosure, and wherein the cooling system is configured to circulate the cooling fluid between the heat exchanger and the interior of the enclosure by way of natural convection cooling to cool the multi-level CHB converter wherein the multi-level CHB converter comprises a plurality of discrete components positioned in a vertical direction in the interior region of the enclosure such that they have a heat density weighted average center at a first height along the vertical direction in the interior region of the enclosure; wherein the heat exchanger having a vertical cooling average center at a second height along vertical direction in the interior region of the enclosure; and wherein the first height of the heat density weighted average center is below the second height of the vertical cooling average center of the heat exchanger in order to sustain flow of the cooling fluid between the enclosure and the heat exchanger through natural convection; and wherein the plurality of discrete components comprises a plurality of capacitors, a plurality of inductors, and a plurality of semiconductor switches, and wherein the plurality of capacitors are positioned at a height along the vertical direction which is greater than the height along the vertical direction of the plurality of inductors, and the plurality of semiconductor switches.