Revenue optimization modeling for renewable energy resource mix for sustainable development

Neha Gupta, Mohini Agarwal (), Pratibha Garg and Manoj Bansal
Additional contact information
Neha Gupta: Amity University Uttar Pradesh
Mohini Agarwal: Amity University Uttar Pradesh
Pratibha Garg: Amity University Uttar Pradesh
Manoj Bansal: Amity University Uttar Pradesh

Journal of Revenue and Pricing Management, 2021, vol. 20, issue 2, No 3, 108-115

Abstract: Abstract The adoption and attainment of sustainable development goals have diverted developing nations like India towards the use of renewable resource for meeting the growing need for electricity. With the advancement in technology for generating electricity, the concern is to develop such renewable energy mix that can help satisfy the electricity demand and be environment friendly. In this paper, one such problem wherein the three conflicting criterion such as maximization of energy savings, maximization of efficiency and minimization of the cost of installation has been considered for designing a multi-objective optimization model to meet the growing demand of electricity. Interactive fuzzy goal programming technique with three different functional forms of membership function namely linear, exponential, and hyperbolic have been used to solve the proposed problem. The results have shown substantial adequacy in meeting the desired load demand and at the same time reduction in installation cost has been seen which in turn will impact the revenue generation.

Keywords: Energy efficiency; Interactive fuzzy goal programming technique; Multi-objective optimization problem; Renewable sources; Revenue optimization (search for similar items in EconPapers)
Date: 2021
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1)

Downloads: (external link)
http://link.springer.com/10.1057/s41272-021-00294-2 Abstract (text/html)
Access to the full text of the articles in this series is restricted.

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:pal:jorapm:v:20:y:2021:i:2:d:10.1057_s41272-021-00294-2

Ordering information: This journal article can be ordered from
https://www.palgrave.com/gp/journal/41272

DOI: 10.1057/s41272-021-00294-2

Access Statistics for this article

Journal of Revenue and Pricing Management is currently edited by Ian Yeoman

More articles in Journal of Revenue and Pricing Management from Palgrave Macmillan
Bibliographic data for series maintained by Sonal Shukla () and Springer Nature Abstracting and Indexing ().