Economic Feasibility Analysis for Renewable Energy Project Using an Integrated TFN–AHP–DEA Approach on the Basis of Consumer Utility
A renewable energy (RE) project has been brought into focus in recent years. Although there is quite a lot of research to assist investors in assessing the economic feasibility of the project, because of the lack of consideration of consumer utility, the existing approaches may still cause a biased...
| Main Authors: | , , , |
|---|---|
| Format: | Article |
| Language: | English |
| Published: |
MDPI AG
2017-12-01
|
| Series: | Energies |
| Subjects: | |
| Online Access: | https://www.mdpi.com/1996-1073/10/12/2089 |
| _version_ | 1797999404152520704 |
|---|---|
| author | Lu Gan Dirong Xu Lin Hu Lei Wang |
| author_facet | Lu Gan Dirong Xu Lin Hu Lei Wang |
| author_sort | Lu Gan |
| collection | DOAJ |
| description | A renewable energy (RE) project has been brought into focus in recent years. Although there is quite a lot of research to assist investors in assessing the economic feasibility of the project, because of the lack of consideration of consumer utility, the existing approaches may still cause a biased result. In order to promote further development, this study focuses on the economic feasibility analysis of the RE project on the basis of consumer utility in the whole life cycle. Therefore, an integrated approach is proposed, which consists of triangular fuzzy numbers (TFNs), an analytic hierarchy process (AHP) and data envelopment analysis (DEA). The first step is to determine the comprehensive cost index weights of DEA by TFN–AHP. Secondly, to solve the problem, the first DEA model, which is proposed by A. Charnes, W. W. Cooper and E. Rhodes (C2R), is established to calculate the DEA effectiveness. Then, the third task involves designing a computer-based intelligent interface (CBII) to simplify realistic application and ensure performance efficiency. Finally, a solar water heater case study is demonstrated to validate the effectiveness of the entire method’s system. The study shows that this could make investors’ lives easier by using the CBII scientifically, reasonably and conveniently. Moreover, the research results could be easily extended to more complex real-world applications. |
| first_indexed | 2024-04-11T11:04:08Z |
| format | Article |
| id | doaj.art-64812b7cbe6340cdb24d3121aafe37eb |
| institution | Directory Open Access Journal |
| issn | 1996-1073 |
| language | English |
| last_indexed | 2024-04-11T11:04:08Z |
| publishDate | 2017-12-01 |
| publisher | MDPI AG |
| record_format | Article |
| series | Energies |
| spelling | doaj.art-64812b7cbe6340cdb24d3121aafe37eb2022-12-22T04:28:26ZengMDPI AGEnergies1996-10732017-12-011012208910.3390/en10122089en10122089Economic Feasibility Analysis for Renewable Energy Project Using an Integrated TFN–AHP–DEA Approach on the Basis of Consumer UtilityLu Gan0Dirong Xu1Lin Hu2Lei Wang3College of Architecture and Urban-Rural Planning, Sichuan Agricultural University, Dujiangyan 611830, ChinaCollege of Architecture and Urban-Rural Planning, Sichuan Agricultural University, Dujiangyan 611830, ChinaCollege of Architecture and Urban-Rural Planning, Sichuan Agricultural University, Dujiangyan 611830, ChinaCollege of Architecture and Urban-Rural Planning, Sichuan Agricultural University, Dujiangyan 611830, ChinaA renewable energy (RE) project has been brought into focus in recent years. Although there is quite a lot of research to assist investors in assessing the economic feasibility of the project, because of the lack of consideration of consumer utility, the existing approaches may still cause a biased result. In order to promote further development, this study focuses on the economic feasibility analysis of the RE project on the basis of consumer utility in the whole life cycle. Therefore, an integrated approach is proposed, which consists of triangular fuzzy numbers (TFNs), an analytic hierarchy process (AHP) and data envelopment analysis (DEA). The first step is to determine the comprehensive cost index weights of DEA by TFN–AHP. Secondly, to solve the problem, the first DEA model, which is proposed by A. Charnes, W. W. Cooper and E. Rhodes (C2R), is established to calculate the DEA effectiveness. Then, the third task involves designing a computer-based intelligent interface (CBII) to simplify realistic application and ensure performance efficiency. Finally, a solar water heater case study is demonstrated to validate the effectiveness of the entire method’s system. The study shows that this could make investors’ lives easier by using the CBII scientifically, reasonably and conveniently. Moreover, the research results could be easily extended to more complex real-world applications.https://www.mdpi.com/1996-1073/10/12/2089renewable energyeconomic evaluationtriangular fuzzy number (TFN)analytic hierarchy process (AHP)data envelopment analysis (DEA)computer-based intelligent interface (CBII) |
| spellingShingle | Lu Gan Dirong Xu Lin Hu Lei Wang Economic Feasibility Analysis for Renewable Energy Project Using an Integrated TFN–AHP–DEA Approach on the Basis of Consumer Utility Energies renewable energy economic evaluation triangular fuzzy number (TFN) analytic hierarchy process (AHP) data envelopment analysis (DEA) computer-based intelligent interface (CBII) |
| title | Economic Feasibility Analysis for Renewable Energy Project Using an Integrated TFN–AHP–DEA Approach on the Basis of Consumer Utility |
| title_full | Economic Feasibility Analysis for Renewable Energy Project Using an Integrated TFN–AHP–DEA Approach on the Basis of Consumer Utility |
| title_fullStr | Economic Feasibility Analysis for Renewable Energy Project Using an Integrated TFN–AHP–DEA Approach on the Basis of Consumer Utility |
| title_full_unstemmed | Economic Feasibility Analysis for Renewable Energy Project Using an Integrated TFN–AHP–DEA Approach on the Basis of Consumer Utility |
| title_short | Economic Feasibility Analysis for Renewable Energy Project Using an Integrated TFN–AHP–DEA Approach on the Basis of Consumer Utility |
| title_sort | economic feasibility analysis for renewable energy project using an integrated tfn ahp dea approach on the basis of consumer utility |
| topic | renewable energy economic evaluation triangular fuzzy number (TFN) analytic hierarchy process (AHP) data envelopment analysis (DEA) computer-based intelligent interface (CBII) |
| url | https://www.mdpi.com/1996-1073/10/12/2089 |
| work_keys_str_mv | AT lugan economicfeasibilityanalysisforrenewableenergyprojectusinganintegratedtfnahpdeaapproachonthebasisofconsumerutility AT dirongxu economicfeasibilityanalysisforrenewableenergyprojectusinganintegratedtfnahpdeaapproachonthebasisofconsumerutility AT linhu economicfeasibilityanalysisforrenewableenergyprojectusinganintegratedtfnahpdeaapproachonthebasisofconsumerutility AT leiwang economicfeasibilityanalysisforrenewableenergyprojectusinganintegratedtfnahpdeaapproachonthebasisofconsumerutility |