Decision-Making in Planning and Investing in Wind Energy

Daniela Borissova
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Daniela Borissova: Bulgarian Academy of Sciences

Chapter Chapter 2 in Decision-Making in Design, Maintenance, Planning, and Investment of Wind Energy, 2024, pp 31-96 from Springer

Abstract: Abstract In the wind energy sector, a substantial amount has been invested and will be invested to build wind power plants. Therefore, it is of great importance to use mathematical models to offer well-motivated solutions for wind energy investment. Wind energy plays an essential role in the European Green Deal. Recent research shows that local councils are key actors who can play a supporting, moderating, escalating, or mediating role in siting decisions about wind energy (Karakislak & Schneider, 2023). Decision-making in companies and organizations usually takes place at three levels—strategic, tactical, and operational. Strategic decisions are top-level decisions and affect any area, such as IT, HR, and finance. These decisions are long-term decisions; they are complex and rely on information based on analytics, experience, and models. Tactical decisions translate strategic decisions into action; they are more straightforward and less complicated than strategic-level decisions. These decisions are made by middle management, while operational decisions are made on a day-to-day basis following various company procedures and processes. All of these means that proper decision-making models are needed to assist management in making decisions related to (1) the assessment and selection of wind site location considering a number of indicator groups; (2) the selection of economy (country) to invest in; (3) the selection of suppliers; and last but not least (4) models for assessment of personnel skills to realize the particular tasks or job. In this regard, this chapter describes appropriate models for the assessment and selection of wind site locations, ranking economies for investment purposes, supplier selection, and assessment when hiring personnel for the implementation of a wind energy project. Such combinatorial optimization models are an important and integral part of decision-making in investing in the building of a wind power plant.

Keywords: Wind farm life cycle; Wind site selection; Ranking of economies to invest; Supplier selection; Personnel selection; Assessment of personnel skills (search for similar items in EconPapers)
Date: 2024
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DOI: 10.1007/978-3-031-52219-2_2

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