Sustainable and Renewable Energy Power Plants Evaluation by Fuzzy TODIM Technique

A. Çağrı Tolga and Zeynep K. Turgut

Alphanumeric Journal, 2018, vol. 6, issue 1, 49-68

Abstract: Sustainable and renewable energy systems are an effective solution to depletion of fossil energy resources and prevent serious environmental problems resulted from energy production. Turkey has rich renewable energy potential due to its geographical features. In this regard, the government puts emphasis on increasing renewable energy utilization rate in meeting energy demand of the country. Therefore encouragement policies are implemented in this field and energy investors are supported economically. In his study, we aimed to find out the best performing sustainable and renewable energy alternative and thus to guide decision makers on energy investments. Therefore we evaluated four energy power plant types, which are solar, wind, hydroelectric and landfilled gas (LFG). For the evaluation of the alternatives, there are many factors to consider and multicriteria decision making (MCDM) methods are an appropriate approach for this issue. In this regard, we determined 22 evaluation criteria in technical, economical and environmental aspect and applied TODIM technique. It is based on prospect theory and the most significant difference from the other MCDM methods is to deal with risk in decision-making. In order to cope with vagueness and uncertainty in this evaluation process, we integrated fuzzy sets into the system. Finally we evaluated the results obtained and presented a sensitivity analysis at the end.

Keywords: Fuzzy TODIM; Power Plants; Prospect Theory; Sustainable and Renewable Energy (search for similar items in EconPapers)
JEL-codes: C61 (search for similar items in EconPapers)
Date: 2018
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Persistent link: https://EconPapers.repec.org/RePEc:anm:alpnmr:v:6:y:2018:i:1:p:49-68

DOI: 10.17093/alphanumeric.371754

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