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In this paper, a novel method to determine the performance of the power-hardware-in-the-loop (PHIL) experiments is introduced. This method is based on wavelet transforms, and hence gives detailed information about the PHIL simulation results in terms of time and frequency. This method is used to compare the performance of the decoupled systems with different simulation/hardware interfaces introduced in Part I. Frequency analysis is also adopted to determine the performance of the PHIL experiments.