Using Value-Focused Thinking and Multicriteria Decision Making to Evaluate Energy Transition Alternatives

Tim H¨ofer (), Rüdiger von Nitzsch () and Reinhard Madlener
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Tim H¨ofer: Institute for Future Energy Consumer Needs and Behavior (FCN), E.ON Energy Research Center, School of Business and Economics, RWTH Aachen University, 52074 Aachen, Germany; Institute for Decision Research and Financial Services, School of Business and Economics, RWTH Aachen University, 52056 Aachen, Germany
Rüdiger von Nitzsch: School of Business and Economics, RWTH Aachen University, 52056 Aachen, Germany

Decision Analysis, 2020, vol. 17, issue 4, 330-355

Abstract: The future transformation of the energy system is a contentious topic, involving a variety of conflicting opinions and interests. In order to structure and evaluate these opinions, we develop a decision-making process with professional stakeholders and energy experts. The aim of this process is to develop a common objective system for the energy transition and to evaluate four possible energy transition alternatives for Germany until 2030. We apply value-focused thinking to define and structure the objectives of the stakeholders and use multiattribute utility theory to evaluate the preferences of the stakeholders toward these objectives. The results show that 8 out of 11 stakeholders prefer the energy transition alternative with the highest climate protection ambitions. Only 3 stakeholders favor the pan-European alternative, where Germany’s power system is further integrated into the European energy system.

Date: 2020
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Persistent link: https://EconPapers.repec.org/RePEc:inm:ordeca:v:17:y:4:i:2020:p:330-355

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