A method for detecting thermal events in an electrical system includes: synchronizing, via a controller, measurements of power consumed by each of a plurality of load elements during an interval with one another and with measurements of power supplied by each of a plurality of power sources to the plurality of load elements during the interval; determining a differential between a sum of the power consumed by the load elements during the interval and a sum of the power supplied by the power sources to the plurality of load elements during the interval; comparing the differential to a predetermined threshold; and determining whether a thermal event has occurred based on the comparison of the differential to the predetermined threshold.