Multi-Criteria Decision-Making in the Implementation of Renewable Energy Sources

Dejan Jovanovic and Ivan Pribicevic

A chapter in Computer Simulation from IntechOpen

Abstract: The consideration of renewable energy sources as sources for the production of electricity, demands an approach that would enable an analysis which comprehends various factors and stakeholders. The Preference Ranking Organization METHod for Enrichment Evaluations (PROMETHEE), as a mathematical model for multi-criteria decision-making, is one of the ideal methods used when it is necessary to rank scenarios according to specific criteria, depending on whom the ranking is applied. This chapter presents various scenarios whose ranking is done according to defined criteria and weight coefficients for each of the stakeholders. This model recognized and accepted according to the theory of decision-making could be used as a tool for so-called stakeholder value approach.

Keywords: renewable energy sources; PROMETHEE; the production of electricity; stakeholder value; multi-criteria decision-making proces; National Renewable Energy Action Plan (NAPOIE); mini hydros; biomass; wind; solar; geothermal energy (search for similar items in EconPapers)
JEL-codes: C60 (search for similar items in EconPapers)
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Persistent link: https://EconPapers.repec.org/RePEc:ito:pchaps:115071

DOI: 10.5772/67734

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