Grey SWARA-FUCOM Weighting Method for Contractor Selection MCDM Problem: A Case Study of Floating Solar Panel Energy System Installation

Qingpeng Cao, Moses Olabhele Esangbedo, Sijun Bai and Caroline Olufunke Esangbedo
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Qingpeng Cao: School of Management, Northwestern Polytechnical University, Xi’an 710072, China
Moses Olabhele Esangbedo: School of Management, Northwestern Polytechnical University, Xi’an 710072, China
Sijun Bai: School of Management, Northwestern Polytechnical University, Xi’an 710072, China
Caroline Olufunke Esangbedo: School of Management, Northwestern Polytechnical University, Xi’an 710072, China

Energies, 2019, vol. 12, issue 13, 1-30

Abstract: Selection of the most appropriate contractor for the installation of solar panels is essential to maximizing the benefit of this renewable, sustainable energy source. Solar energy is one of the 100% renewable energy sources, but implementation may not be very simple and cost-effective. A key phase in the implementation of renewable energy is the evaluation of contractors for the installation of solar panels, which is addressed as a multi-criteria decision-making (MCDM) problem. A new hybrid method is proposed that combines the stepwise weight analysis ratio assessment (SWARA) and full consistent method (FUCOM) weights that are represented as grey numbers used with traditional grey relational analysis (GRA) and evaluation based on distance from average solution (EDAS) methods. The ranking of contractors by both methods is the same, which confirmed the results presented in this research. The use of the grey SWARA-FUCOM weighting method combined with the GRA and EDAS methods increased the decision-makers’ (DMs) confidence in awarding the installation of the solar panel energy system to the top-ranked contractor.

Keywords: solar energy; renewable energy; grey system theory; multi-criteria decision-making; pairwise comparison; grey relational analysis; stepwise weight analysis ratio assessment; full consistent method (search for similar items in EconPapers)
JEL-codes: Q Q0 Q4 Q40 Q41 Q42 Q43 Q47 Q48 Q49 (search for similar items in EconPapers)
Date: 2019
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (8)

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