A Robust Framework for Renewable Energy Policy Evaluation Using MCDA and Compromise Ranking with Stochastic Weight Identification
Journal Title: Journal of Intelligent Management Decision - Year 2024, Vol 3, Issue 4
Abstract
Evaluating renewable energy policies is crucial for fostering sustainable development, particularly within the European Union (EU), where energy management must account for economic, environmental, and social criteria. A stable framework is proposed that integrates multiple perspectives by synthesizing the rankings derived from four widely recognized Multi-Criteria Decision Analysis (MCDA) methods—Measurement of Alternatives and Ranking according to Compromise Solution (MARCOS), Technique for Order of Preference by Similarity to Ideal Solution (TOPSIS), Stable Preference Ordering Towards Ideal Solution (SPOTIS), and Multi-Objective Optimization by Ratio Analysis (MOORA). This approach addresses the inherent variability in individual MCDA techniques by applying Copeland's compromise method, ensuring a consensus ranking that reflects the balanced performance of renewable energy systems across 16 EU countries. To further enhance the reliability of the framework, the Stochastic Identification of Weights (SITW) approach is employed, optimizing the criteria weights and strengthening the consistency of the evaluation process. The results reveal a strong alignment between the rankings generated by individual MCDA methods and the compromise rankings, particularly among the highest-performing alternatives. This alignment highlights the stability of the framework, enabling the identification of critical drivers of renewable energy policy performance—most notably energy efficiency and environmental sustainability. The compromise approach proves effective in balancing multiple, sometimes conflicting perspectives, offering policymakers a structured tool for informed decision-making in the complex domain of energy management. The findings contribute to the development of advanced frameworks for decision-making by demonstrating that compromise rankings can offer robust solutions while maintaining methodological consistency. Furthermore, this framework provides valuable insights into the complex dynamics of renewable energy performance evaluation. Future research should explore the applicability of this methodology beyond the EU context, incorporating additional dimensions such as social, technological, and institutional factors, and addressing the dynamic evolution of energy policies. This framework offers a solid foundation for refining policy evaluation strategies, supporting sustainable energy management efforts in diverse geographic regions.
Authors and Affiliations
Bartłomiej Kizielewicz, Wojciech Sałabun
Keywords
Related Articles
- EP ID EP752401
- DOI https://doi.org/10.56578/jimd030402
- Views 8
- Downloads 0
Evaluating the Logistics Performance of G8 Nations Using Multi-Criteria Decision-Making Models
Logistics performance plays a pivotal role in fostering economic growth and enhancing global competitiveness. This study aims to evaluate the logistics performance of G8 nations through multi-criteria decision-making (MC...
Influencing Factors of Second-Hand Platform Trading in C2C E-commerce
Due to COVID-19, the trade and circulation of second-hand goods grew rapidly in the past three years, bringing new opportunities to online second-hand Consumer to Consumer (C2C) trading platform. This paper aimed to stud...
Fuzzy Multi-Criteria Analyses on Green Supplier Selection in an Agri-Food Company
The way agri-food companies conduct business has changed as a result of changes in the market. These companies must start working in a more environmentally friendly manner. This study aims to examine, assess, and compare...
The Influence of Objective Weight Determination Methods on Electric Vehicle Selection in Urban Logistics
This study addresses the challenge of selecting appropriate electric vehicles for urban logistics, with a specific focus on the impact of various multi-criteria analysis methods on this complex decision-making process. T...
Does the Performance of MCDM Rankings Increase as Sensitivity Decreases? Graphics Card Selection and Pattern Discovery Using the PROBID Method
In general, a stable and strong system shouldn't have an overly sensitive/dependent response to inputs (unless consciously and planned desired), as this would reduce efficiency. As in other techniques, approaches, and me...