Selection of Renewable Energy Projects from the Investor’s Point of View Based on the Fuzzy–Rough Approach and the Bonferroni Mean Operator

Ibrahim Krayem A. El-Jaberi, Ilija Stojanović, Adis Puška (), Nikolina Ljepava and Radivoj Prodanović
Additional contact information
Ibrahim Krayem A. El-Jaberi: FIMEK—Faculty of Economics and Engineering Management, University Business Academy in Novi Sad, Cvećarska 2, 21102 Novi Sad, Serbia
Ilija Stojanović: College of Business Administration, American University in the Emirates, Dubai International Academic City, Dubai P.O. Box 503000, United Arab Emirates
Adis Puška: Department of Public Safety, Government of Brčko District of Bosnia and Herzegovina, Bulevara Mira 1, 76100 Brčko, Bosnia and Herzegovina
Nikolina Ljepava: College of Business Administration, American University in the Emirates, Dubai International Academic City, Dubai P.O. Box 503000, United Arab Emirates
Radivoj Prodanović: FIMEK—Faculty of Economics and Engineering Management, University Business Academy in Novi Sad, Cvećarska 2, 21102 Novi Sad, Serbia

Sustainability, 2024, vol. 16, issue 22, 1-17

Abstract: More and more investments are being made in energy conversion projects from renewable energy sources (RESs), and a large number of investors are entering this sector. The focus of this study is the decision-making by the investor BD Green Energy in the Brčko District of Bosnia and Herzegovina. In order to choose the RES system that would realize this investment in the most efficient way, expert decision-making based on the fuzzy–rough approach and the Bonferroni mean operator was used. Determining the importance of the criteria was conducted using the fuzzy–rough SiWeC (simple weight calculation) method. The results of this method showed that all used criteria have similar importance for the investor. RES system selection was conducted using the fuzzy–rough CoCoSo (combined compromise solution) method. The results of this method showed that investing in photovoltaic (PV) energy is the best for the investor. This research provided guidance on how investors should make investment decisions in RES systems with incomplete information and uncertainty in the decision-making process.

Keywords: renewable energy choices; investment decision-making; capital projects; photovoltaic; fuzzy–rough approach; Bonferroni mean operator (search for similar items in EconPapers)
JEL-codes: O13 Q Q0 Q2 Q3 Q5 Q56 (search for similar items in EconPapers)
Date: 2024
References: View references in EconPapers View complete reference list from CitEc
Citations:

Downloads: (external link)
https://www.mdpi.com/2071-1050/16/22/9929/pdf (application/pdf)
https://www.mdpi.com/2071-1050/16/22/9929/ (text/html)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:gam:jsusta:v:16:y:2024:i:22:p:9929-:d:1520917

Access Statistics for this article

Sustainability is currently edited by Ms. Alexandra Wu

More articles in Sustainability from MDPI
Bibliographic data for series maintained by MDPI Indexing Manager ().