Method for real-time estimation of temperatures (T) of electric components in a power electronics system, the method comprising the steps of: - obtaining a current reference temperature (T ref ); - obtaining current power loss values (P) of the electric components ; - determining self-heating coefficients of the electric components for the obtained current power loss values (P); - determining external heating coefficients of the electric components ; and - estimating the temperatures (T) of the electric components in real-time based on the obtained current reference temperature (T ref ), the determined self-heating coefficients and the determined external heating coefficients , characterized in that : - the step of obtaining the current power loss values (P) of the electric components comprises square-edge approximation of the power loss (P) over time for each one of the electric components such that the current power loss values (P) are obtained for specified time steps (t), - the step of obtaining the current power loss values (P) of the electric components further comprises decomposing the current power loss values (P) of each one of the electric components for the specified time steps (t) into power loss delta steps (ΔP) of each one of the electric components and storing the power loss delta steps (ΔP), - each one of the power loss delta steps (ΔP) for a specified time step (t) is stored in one of a predetermined number of storage locations , - the oldest power loss delta steps (ΔP) are deleted from the storage locations when the predetermined number of storage locations is full, - the value from the deleted power loss delta steps (ΔP) is retained in the next power loss delta steps (ΔP). - obtaining a current reference temperature (T ref ); - obtaining current power loss values (P) of the electric components ; - determining self-heating coefficients of the electric components for the obtained current power loss values (P); - determining external heating coefficients of the electric components ; and - estimating the temperatures (T) of the electric components in real-time based on the obtained current reference temperature (T ref ), the determined self-heating coefficients and the determined external heating coefficients , - the step of obtaining the current power loss values (P) of the electric components comprises square-edge approximation of the power loss (P) over time for each one of the electric components such that the current power loss values (P) are obtained for specified time steps (t), - the step of obtaining the current power loss values (P) of the electric components further comprises decomposing the current power loss values (P) of each one of the electric components for the specified time steps (t) into power loss delta steps (ΔP) of each one of the electric components and storing the power loss delta steps (ΔP), - each one of the power loss delta steps (ΔP) for a specified time step (t) is stored in one of a predetermined number of storage locations , - the oldest power loss delta steps (ΔP) are deleted from the storage locations when the predetermined number of storage locations is full, - the value from the deleted power loss delta steps (ΔP) is retained in the next power loss delta steps (ΔP). <EOS>