Reversible substations (RSs) permitting bidirectional power flows can recover the regenerative braking energy of trains in DC traction power supply systems (TPSSs), increasing the energy efficiency of railway systems. To predict their effects on system dynamics and energy savings, the paper develops multiresolution models (MRMs) to simulate the RS roles with different fidelities. A high-resolution model for the transient simulation replicates a particular topology where a three-level voltage source inverter is connected to the secondary winding of an existing 12-pulse rectifier transformer and regulated to keep a constant DC voltage in the inverting mode. Furthermore, it can model the transient effects of pantograph-to-line arcing by inserting arc voltage profiles at the train’s input stage. To increase the computation speed in the long-term energy flow simulation, a low-resolution model simplifies the rectifiers into a series connection of a diode and a controlled voltage source depicting their nonlinear output characteristics and then places a DC voltage source in parallel to form a reverse path for braking power recovery. In addition, nonlinear conversion efficiencies are introduced to calculate energy flows across substations. The MRMs are tested based on a 1.5 kV DC TPSS and discussed alongside system dynamics under normal operation or pantograph arcing and the consistencies between different models. The RS using bidirectional voltage source converters only is additionally modelled to compare the technical performance of the two topologies in terms of system dynamics and energy efficiencies.