A method for preventing damage in a bearing of a generator, the generator being electrically coupled to a power conversion assembly with a first converter coupled to a second converter, the method comprising: monitoring, via a controller, one or more electrical signals of the power conversion assembly; converting, via the controller, the one or more electrical signals to a frequency domain; extracting, via the controller, one or more spectral components in frequency bands of the frequency domain around one or more known characteristic frequencies of the bearing; determining, via the controller, characteristics of the one or more spectral components in the frequency bands, wherein determining the characteristics comprises calculating one or more peak magnitudes of the one or more spectral components in the frequency bands, and calculating one or more entropies of the one or more spectral components in the frequency bands; comparing, via the controller, the one or more entropies of the one or more spectral components in the frequency bands to an entropy threshold; generating, via the controller, a fault signal or a baseline signal for the bearing when the one or more entropies exceeds the entropy threshold; if the one or more entropies is less than the entropy threshold, comparing the one or more peak magnitudes to a magnitude threshold; generating the fault signal when the one or more peak magnitudes is less than the magnitude threshold; and generating the baseline signal when the one or more entropies is less than the entropy threshold and the one or more peak magnitudes is greater than the magnitude threshold; and in response to the fault signal being generated, implementing, via the controller, a control action. monitoring, via a controller, one or more electrical signals of the power conversion assembly; converting, via the controller, the one or more electrical signals to a frequency domain; extracting, via the controller, one or more spectral components in frequency bands of the frequency domain around one or more known characteristic frequencies of the bearing; determining, via the controller, characteristics of the one or more spectral components in the frequency bands, wherein determining the characteristics comprises calculating one or more peak magnitudes of the one or more spectral components in the frequency bands, and calculating one or more entropies of the one or more spectral components in the frequency bands; comparing, via the controller, the one or more entropies of the one or more spectral components in the frequency bands to an entropy threshold; generating, via the controller, a fault signal or a baseline signal for the bearing when the one or more entropies exceeds the entropy threshold; if the one or more entropies is less than the entropy threshold, comparing the one or more peak magnitudes to a magnitude threshold; generating the fault signal when the one or more peak magnitudes is less than the magnitude threshold; and generating the baseline signal when the one or more entropies is less than the entropy threshold and the one or more peak magnitudes is greater than the magnitude threshold; and in response to the fault signal being generated, implementing, via the controller, a control action.