Simple and most economical: mechanically switched capacitors (MSC), mechanically switched reactors (MSR) or filter circuits (FC) are well proven in many applications.
When speed is not the main focus, mechanically switched capacitors (MSC) are a simple and low-speed solution that provides grid stabilization and voltage control under heavy load conditions, while mechanically switched reactors (MSR) provide stabilization under low load conditions.
A more advanced variant is a mechanically switched capacitor with damping network (MSCDN). This filter circuit provides reactive power to the grid by using a capacitive filter structure. This limits the amplification of existing harmonics in the grid, and further enhances grid stability. In industrial plants filter circuits reduce harmonics and improve the power factor. Switched filters enable a slow power factor control.