Collaboration Enhanced Hybrid Fuzzy Decision-Making Approach to Analyze the Renewable Energy Investment Projects

22 Pages Posted: 5 Oct 2021

See all articles by Hasan Dinçer

Hasan Dinçer

Istanbul Medipol University

Luis Martínez

University of Jaén - Department of Computer Science

Serhat Yüksel

Istanbul Medipol University

Abstract

The aim of this study is to examine the cost management strategies of low-carbon renewable energy projects. The main contribution is a novel hybrid model based on Pythagorean fuzzy DEMATEL, TOPSIS and Shapley value to find appropriate policies to improve these projects. The results indicate that internal process has always the lowest costs for the solar energy alternatives. In addition, customer is the lowest cost factor with respect to the wind energy alternative. Thus, it is obvious that improving the qualification of the employees is essential for the improvement of the solar energy projects. Moreover, the effectiveness of the wind energy investments can be increased with the help of giving significance to the customers. Furthermore, it is also concluded that when the level of the cooperation increases, the efficiency of the investments can be higher. Another important point is that if the investors prefer to make weak or strong cooperative cost management strategy, they should primarily focus on solar energy projects because they have lower costs in comparison with other alternatives.

Keywords: Low Carbon Renewable Energies, Cost Management, Shapley Value, Pythagorean Fuzzy Sets, DEMATEL, TOPSIS

Suggested Citation

Dinçer, Hasan and Martínez, Luis and Yüksel, Serhat, Collaboration Enhanced Hybrid Fuzzy Decision-Making Approach to Analyze the Renewable Energy Investment Projects. Available at SSRN: https://ssrn.com/abstract=3936374 or http://dx.doi.org/10.2139/ssrn.3936374

Hasan Dinçer

Istanbul Medipol University ( email )

Kavacık Mah. Ekinciler Cad. No.19 Kavacık Kavşağı
Beykoz
Istanbul, 34810
Turkey

Luis Martínez (Contact Author)

University of Jaén - Department of Computer Science ( email )

Jaen
Spain

Serhat Yüksel

Istanbul Medipol University ( email )

Kavacık Mah. Ekinciler Cad. No.19 Kavacık Kavşağı
Beykoz
Istanbul, 34810
Turkey

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