The Transient Voltage Suppression diode (TVS) is a component that is commonly used for transient protection. (Not to be confused with zener diode or schottky diode.) It consists of a p-n semiconductor junction that becomes conductive during a transient voltage spike. In normal circumstances, it appears as an open circuit despite a small leakage current.
When the voltage on the transient voltage suppressor rises across its threshold voltage(Breakdown Voltage), the avalanche effect of the semiconductor causes the p-n junction to become a low-impedance path that channels away the excessive current. The response time of the TVS diode is extremely fast, often expressed in picoseconds.
The placement of the TVS diode is also important. It is a good practice to place TVS diodes as close to the power source as possible.