Using an Analytical Hierarchy Process to Analyze the Development of the Green Energy Industry

Wen-Hsiang Chiu,Nien-Ping Chen,Wen-Cheng Lin,Chun-Nan Chen

doi:10.3390/en14154452

Abstract

With global climate change and resource scarcity becoming increasingly serious issues, the green energy economy is transforming on a global scale. There are an increasing number of large-scale green energy development projects. However, these are often beset with risks; thus, this study conducted an analysis of the renewable energy risks in Taiwan using the analytical hierarchy process technique. Accordingly, a comprehensive study focusing into the current energy situation and potential development is needed. Renewable energy status and the availability by its main types, including, wind, solar, thermal, and biomass energies, were critically reviewed and discussed in this study. The findings of this study include the top 10 key operating risks recognized by specific green energy companies, as well as an assessment of which risks have been addressed and which have caused losses.

Highlights

With global climate change and resource scarcity becoming increasingly serious issues, the green economy is seeing transformational trends on a global scale [1]
We reviewed the literature and discovered that recent studies mainly focus on the effect of critical risks and risk management investigations in developing green energy policies, as well as problems found in the green energy industry
Other issues include the following: green energy investment projects have a long timeframe; Taiwan’s electricity industry is not liberalized enough; electricity prices are so low that green energy producers have no choice but to develop using electricity rather than renewable energy; and green energy businesses have to rely on feed-in tariff (FIT) subsidies

Summary

Introduction

With global climate change and resource scarcity becoming increasingly serious issues, the green economy is seeing transformational trends on a global scale [1]. There is a need to accelerate more research and investment in the renewable energy sector to use a hybrid energy system, which can offer a better grid stability. Sarkar et al [6] stated that the manufacturing system in question produces defective products during extended periods of use, and those products can be reworked at a cost in order to ensure that they have an optimal energy efficiency and carbon footprint. The development of this system is affected by the development factors of green energy risks, which, in turn, affect the production efficiency

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Methods

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Conclusion