Evaluation of Renewable Energy Technology Based on Reliability Attributes Using Hybrid Fuzzy Dynamic Decision-Making Model

Abstract

Socio-technical and economic attributes consideration are very important during a renewable energy technology selection for a community. When decision-makers considered these attributes under a dynamic nature, they arrive at a robust decision. Hence, this study proposes an integrated model for renewable energy technologies evaluation under a dynamic condition. We developed the model using dynamic intuitionistic fuzzy Einstein geometric averaging operator, intuitionistic fuzzy entropy, and the intuitionistic fuzzy technique for order of preference by similarity to ideal solution method (TOPSIS). This model’s applicability was tested using five renewable energy technologies - solar (PT1), wind (PT2), hydroelectricity (PT3), geothermal (PT4) and biomass (PT5) and five attributes (risk factor, payback reliability, social benefit, change in demand and cost). Based on five energy experts, from academia and industry, opinions, the proposed model identified biomass energy technology as the most suitable energy technology. Three existing multi-criteria models were used to verify the proposed model; the proposed model performance was consistent with the existing models’ results. From most suitable the least suitable, the model ranked these technologies PT5\u2009>\u2009PT2\u2009>\u2009PT3\u2009>\u2009PT1\u2009>\u2009PT4.