Renewable Energy Investments in Turkey and Evaluation of Selection Criteria under Fuzzy Environment

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Renewable Energy Investments in Turkey and Evaluation of Selection Criteria under Fuzzy Environment

Journal Title: International Journal of Humanities and Social Science Invention - Year 2018, Vol 7, Issue 12

Abstract

Renewable energy is replacing fossil fuels day by day and becoming more efficient and more popular. Effects of global warming and the limited availability of fossil fuel stocks have led the direction of energy production to sources such as wind, solar, geothermal and hydro. Turkey’s renewable energy investment and production is not yet sufficient but increasing over time. However, it is important for not only the engineering and economic area but also the social aspect which energy resource is invested in. Determination of important criteria may increase the acceptability of the investments to be made. The main aim of the study is to identify the main criteria and sub-criteria that are effective in the investment to be made for renewable energy production and to present it in a hierarchical structure. In addition, evaluation the weights of the criteria and rank all the criteria according to their importance. For this reason, technical, economic, sociopolitical and environmental aspects were selected as the main criteria in the selection of renewable energy sources in this study. Each main criterion is divided to sub-criteria. The priorities and weights of the criteria were determined by using the Fuzzy AHP method through binary comparisons. Investment costs, production costs and productivity were found as the most important criteria. The renewable energy investment alternatives can be evaluated by using the obtained criteria weights and it will be possible to reach optimum solution. The results may change because of local situations so investors should consider each case separately.

Authors and Affiliations

Tülin Durukan

Keywords

EP ID EP422494
DOI -
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