A system for enhanced sequential power system model calibration is provided. The system is programmed to store a model of a device. The model includes a plurality of parameters. The system is also programmed to receive a plurality of events associated with the device, receive a first set of calibration values for the plurality of parameters, generate a plurality of sets of calibration values for the plurality of parameters, for each of the plurality of sets of calibration values, analyze a first event of the plurality of events using a corresponding set of calibration values to generate a plurality of updated sets of calibration values, analyze the plurality of updated sets of calibration values to determine a current updated set of calibration values, and update the model to include the current updated set of calibration values.