TY - JOUR
T1 - Optimizing renewable energy portfolios with a human development approach by fuzzy interval goal programming
AU - Hashemizadeh, Ali
AU - Ju, Yanbing
N1 - Publisher Copyright:
© 2021 Elsevier Ltd
PY - 2021/12
Y1 - 2021/12
N2 - Human development (HD) is considered one of the main metrics for determining the development level of a region. The central motivation of this research is establishing a strategic decision-making paradigm for optimizing renewable energy project (REP) portfolios, with a particular application to east China to quantify how HD influences a REP portfolio selection. The REP portfolio selection is subject to many unclear criteria and various sustainability goals. Fuzzy interval goal programming (FIGP) models are used to deal with the imprecision and uncertainty of the models' goals and coefficients. In this study, firstly, four objectives of social, economic, environmental, and technical criteria, as well as 12 sub-criteria were weighted by fuzzy ANP. Secondly, the potential REPs were assessed on these criteria to deal with the underlying ambiguities. Thirdly, the performance of potential projects was evaluated by the MABAC technique. Fourthly, a mixed-integer linear programming model was constructed and the FIGP is employed to form an optimal portfolio. Eventually, a sensitivity analysis was done to verify the validity of the suggested system. Based on this study's findings, HD is the most significant criterion. These innovative results will assist policymakers in better understanding the role of HD in the REP portfolio selection process.
AB - Human development (HD) is considered one of the main metrics for determining the development level of a region. The central motivation of this research is establishing a strategic decision-making paradigm for optimizing renewable energy project (REP) portfolios, with a particular application to east China to quantify how HD influences a REP portfolio selection. The REP portfolio selection is subject to many unclear criteria and various sustainability goals. Fuzzy interval goal programming (FIGP) models are used to deal with the imprecision and uncertainty of the models' goals and coefficients. In this study, firstly, four objectives of social, economic, environmental, and technical criteria, as well as 12 sub-criteria were weighted by fuzzy ANP. Secondly, the potential REPs were assessed on these criteria to deal with the underlying ambiguities. Thirdly, the performance of potential projects was evaluated by the MABAC technique. Fourthly, a mixed-integer linear programming model was constructed and the FIGP is employed to form an optimal portfolio. Eventually, a sensitivity analysis was done to verify the validity of the suggested system. Based on this study's findings, HD is the most significant criterion. These innovative results will assist policymakers in better understanding the role of HD in the REP portfolio selection process.
KW - China
KW - Energy policy
KW - Human development index
KW - Multi-criteria decision making
KW - Project portfolio management
UR - http://www.scopus.com/inward/record.url?scp=85116066250&partnerID=8YFLogxK
U2 - 10.1016/j.scs.2021.103396
DO - 10.1016/j.scs.2021.103396
M3 - Article
AN - SCOPUS:85116066250
SN - 2210-6707
VL - 75
JO - Sustainable Cities and Society
JF - Sustainable Cities and Society
M1 - 103396
ER -
