Coalition-oriented strategic selection of renewable energy system alternatives using q-ROF DEMATEL with golden cut

Liangliang Sun, Jiayu Peng, Hasan Dinçer and Serhat Yüksel

Energy, 2022, vol. 256, issue C

Abstract: Hybrid energy investment projects help to increase the efficiency in renewable energy production. This situation can be a solution to the high installation cost problem of the clean energy investments. While examining similar studies in the literature, it is determined that there is a need for a new study to identify the optimal combinations of the renewable energy alternatives to increase the effectiveness of the hybrid energy investments. This study aims to identify coalition-oriented strategic selection of renewable energy system alternatives. Several combinations are weighted by q-rung orthopair fuzzy (q-ROF) decision making trial and evaluation laboratory (DEMATEL) with golden cut and coalition game theory. Intuitionistic fuzzy sets (IFSs) and Pythagorean fuzzy sets (PFSs) are also used to check the validity of the findings. Moreover, multi stepwise weight assessment ratio analysis (M-SWARA) methodology is also considered to measure the consistency of the analysis results. It is defined that solar is the most efficient energy alternative for the hybrid energy investments. Solar energy should be prioritized in hybrid investment projects where at least two of the renewable energy alternatives are evaluated together. The usage area of solar energy is wide because it is not necessary to be close to the water source or the city network to install solar panels. Additionally, solar energy systems generally do not require much maintenance that provides a cost advantage compared to others. Owing to these issues, solar energy projects provide the highest contribution in all investment combinations. The novelty of this paper is to provide a unique model by combining the methodology of q-ROF and golden cut properly with the aim of proposing a set of renewable energy system combinations in terms of coalition game theory.

Keywords: Renewable energy; Strategic selection; Energy investments; Fuzzy logic; Coalition game theory (search for similar items in EconPapers)
Date: 2022
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (3)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:energy:v:256:y:2022:i:c:s0360544222015092

DOI: 10.1016/j.energy.2022.124606

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