A Multi-Criteria Strategic Decision Making Model to Assess Renewable Energy Forms

A Multi-Criteria Strategic Decision Making Model to Assess Renewable Energy Forms

Daniel W. Keebler (Rutgers University-Camden, Camden, NJ, USA), Paul D. Albertelli Jr. (United States Military Academy, West Point, NY, USA & Stevens Institute of Technology, Hoboken, NJ, USA) and Briance Mascarenhas (Rutgers University-Camden, Camden, NJ, USA)
Copyright: © 2017 |Pages: 10
DOI: 10.4018/IJSDS.2017040101
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Abstract

Renewable energy can potentially be a source of competitive advantage, reduce greenhouse gases, and counter climate change. This study utilizes Multi-Criteria Decision Analysis to systematically assess the relative attractiveness of multiple renewable energy forms based on three factors: 1. business (economic), 2. technical (environmental), and 3. social (regulatory). It uncovers the relative attractiveness of various renewable energy forms and suggests strategies for their development for providers and customers. After considering multiple factors, the study found hydro, geothermal, and wind power to be relatively attractive renewable energy sources.
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The Study

The study is based on detailed analysis of the development of various renewable forms of energy: solar, wind, bio, hydro, and geothermal. (Other renewal energy forms - ocean/tidal, hydrogen/fuel cell and green power – are in their infancy and insufficient data exist on the three factors to permit metric estimation and inclusion in the Multi-Criteria Decision Analysis (MCDA)).

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