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Voltage stability is one of the serious problems in stand- alone wind energy schemes utilizing the induction generator especially under wind excursion and load variation. This paper presents a novel low cost Modulated Power Filter Compensator FACTS based-MPFC for a stand-alone green energy renewable wind energy conversion systems using self-excited low cost squirrel-cage induction generator (SEIG) driven by a wind turbine and connected to balanced/unbalanced load utility systems. A novel control scheme based on a tri-loop dynamic error driven error scaled regulator is applied to ensure both source and load bus voltage stabilization and enhance the power quality. The MPFC-FACTS scheme is digitally simulated and satisfactory results were obtained showing the applicability of the novel FACTS Stabilization Power Filter for supplying power to different unbalanced loads such as isolated villages, heating, water pumping, ventilation and air conditioning.