Risk Analysis in the Selection of Renewable Energy Portfolios under Uncertainty

Abstract

This paper presents the fuzzy multicriteria decision making method for evaluating and selecting renewable energy portfolios under uncertainty. Risk analysis is taken into account in the decision making process. Linguistic terms represented by triangular fuzzy numbers are used to facilitate the subjective assessment made by the decision makers. A new algorithm based on the concept of fuzzy similarity is proposed for producing a performance index value for every renewable energy portfolio across all selection criteria. An example is presented to demonstrate the usefulness of the proposed method for solving the renewable energy portfolio selection problem.