Among the particle accelerators for scientific applications, the “Synchrotron Light Sources” are fundamental tools of research in a large number of fields. The object of study of this paper is the third-generation Storage Ring-based Synchrotron Light Source (“Elettra”), located in Trieste, Italy. The paper aims at characterizing the sensitivity of Elettra to the power quality (PQ) events by analyzing the disturbances recorded on-site and their effects on the operation of the Storage Ring (SR). More in detail, the first goal of this paper is to identify a voltage dip severity index and a power acceptability curve for Elettra. The second goal is to evaluate the changes of Elettra sensitivity to PQ disturbances over the years, following some significant upgrades to the facility.