Financial product prioritization for small-scale wind turbine projects: a novel fuzzy hybrid methodology

Serhat Yüksel (), Serkan Eti (), Hasan Dinçer (), Yaşar Gökalp () and Yeter Uslu ()
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Serhat Yüksel: İstanbul Medipol University
Serkan Eti: İstanbul Medipol University
Hasan Dinçer: İstanbul Medipol University
Yaşar Gökalp: İstanbul Medipol University
Yeter Uslu: İstanbul Medipol University

Financial Innovation, 2025, vol. 11, issue 1, 1-30

Abstract: Abstract Small-scale wind turbines are essential energy sources for hospitals because they have several advantages, such as lower maintenance costs and the possibility of customization. However, small-scale wind energy projects often have high capital requirements. Many factors affect the performance of financial products to be developed for financing small-scale wind turbines. Nevertheless, applications to improve each of these variables lead to increased costs. Owing to this situation, it is necessary to determine the more important factors and to prioritize these issues. The purpose of this study is to identify the essential factors that have the greatest impact on the performance of financial products considered for small-scale wind turbine projects. First, a unique criteria list is evaluated via the T-Spherical fuzzy TOP-DEMATEL technique. Another analysis is also performed to define which of the financial products are suitable for small-scale wind turbine projects with RATGOS. The main contribution of this study is that a priority evaluation has been conducted to identify the most critical determinants of effective financial products for small-scale wind turbine projects. Current decision-making models called RATGOS and TOP-DEMATEL are used to increase methodological specificity and minimize uncertainty. One of the theoretical contributions of this study is that it provides a strategic roadmap for financing such projects. The findings indicate that financial efficiency is the most significant factor in increasing the performance of financial innovation. Moreover, green bonds can be a viable option for financing wind energy projects, as they are generally long-term and have low interest rates.

Keywords: Energy investment; Financial innovation; Green bond; Service industry; Wind energy (search for similar items in EconPapers)
Date: 2025
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DOI: 10.1186/s40854-025-00790-z

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