A system, computer readable medium, and a method for monitoring power module degradation in a vehicle are provided. The method includes determining a structure function of a power module, determining a change in the structure function based on a comparison between the structure function and an initial or baseline structure function associated with the power module, outputting a degradation determination result based on the change in the structure function, and generating an alert when the degradation determination result exceeds a predetermined or adaptively determined degradation criterion value.