Rationalising photovoltaic energy investments with multicriteria decision analysis: a Greek case study

Pelopidas Siskos and Socrates Houridis

International Journal of Multicriteria Decision Making, 2011, vol. 1, issue 2, 205-229

Abstract: During the last years, the global market of renewable energy resources is in a continuous growth. This paper deals with the decision making problem of a specific investor who is willing to invest in the development of a small photovoltaic park, in the Greek PV Market. The main objective of this paper is to structure this specific problem as a multicriteria decision problem. A set of eight alternative contractor companies, responsible for studying and manufacturing the PV system is identified and evaluated on 12 criteria which are grouped in three categories: company profile, financial and technical aspects of the submitted proposals. The paper outlines the implementation of the ELECTRE I multicriteria method in order to support the investor in choosing the best alternative. Although the method does not provide initially a single choice, a robustness analysis of the method follows so as the best available alternative to be selected.

Keywords: multicriteria analysis; sustainable energy planning; photovoltaic energy; decision support systems; DSS; ELECTRE; multicriteria decision making; MCDM; renewable energy; Greece; investment decisions; solar energy; solar power. (search for similar items in EconPapers)
Date: 2011
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Persistent link: https://EconPapers.repec.org/RePEc:ids:ijmcdm:v:1:y:2011:i:2:p:205-229

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