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Use of Balanced Scorecard (BSC) Performance Indicators for Small-Scale Hydropower Project Attractiveness Analysis

Author

Listed:
  • Augusto Cesar Campos de Souza Machado

    (Institute of Natural Resources (IRN), Itajuba Federal University, Itajuba 37500-903, MG, Brazil)

  • Geraldo Lucio Tiago Filho

    (Institute of Natural Resources (IRN), Itajuba Federal University, Itajuba 37500-903, MG, Brazil)

  • Thiago Modesto de Abreu

    (Institute of Electrical Systems and Energy (ISEE), Itajuba Federal University, Itajuba 37500-903, MG, Brazil)

  • Francesco Facchini

    (Department of Mechanics, Mathematics and Management, Polytechnic University of Bari, 70125 Bari, Italy)

  • Robson Francisco da Silva

    (Industrial Engineering Post-Graduation Program, Nove de Julho University (UNINOVE), São Paulo 01504-001, SP, Brazil)

  • Luiz Fernando Rodrigues Pinto

    (Industrial Engineering Post-Graduation Program, Nove de Julho University (UNINOVE), São Paulo 01504-001, SP, Brazil)

Abstract

Small-scale hydropower plants (SHP) have been losing competitiveness compared to other renewable sources in the global electricity matrix due to technical, environmental, regulatory, and economic issues. In this context, and to contribute to the development and strengthening of SHP’s integration into the country’s electricity matrix, this study proposes the Balanced Scorecard (BSC) as a strategic evaluation tool for SHP projects from the prospecting phase to the pre-implementation phase, taking into account financial and non-financial performance indicators. This study aims to structure a strategic map of the SHP source composed of economic, socio-environmental, institutional, and technical perspectives, adapted to the four perspectives of the BSC, with the required performance indicators for the strategic evaluation of SHP. The development of a computer program allowed data visualization from eight case studies focusing on indicators or perspectives that jeopardize the project’s strategic viability. The results showed that (i) the adaptation of the BSC methodology for the strategic evaluation of SHP feasibility proved effective and (ii) the developed computer program demonstrated robustness and effectiveness in analyzing SHP, even in different stages of development and with different technical and environmental characteristics. Finally, the strategic evaluation of SHP feasibility is an effective tool in assisting decision makers, indicating the positive aspects and weaknesses of the project under evaluation and providing a better understanding of the asset and the areas of development that deserve greater attention to improve its performance.

Suggested Citation

  • Augusto Cesar Campos de Souza Machado & Geraldo Lucio Tiago Filho & Thiago Modesto de Abreu & Francesco Facchini & Robson Francisco da Silva & Luiz Fernando Rodrigues Pinto, 2023. "Use of Balanced Scorecard (BSC) Performance Indicators for Small-Scale Hydropower Project Attractiveness Analysis," Energies, MDPI, vol. 16(18), pages 1-16, September.
    • Handle: RePEc:gam:jeners:v:16:y:2023:i:18:p:6615-:d:1239677
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    References listed on IDEAS

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    1. Dincer, Hasan & Yuksel, Serhat, 2019. "Balanced scorecard-based analysis of investment decisions for the renewable energy alternatives: A comparative analysis based on the hybrid fuzzy decision-making approach," Energy, Elsevier, vol. 175(C), pages 1259-1270.
    2. Furlan, Claudia & Mortarino, Cinzia, 2018. "Forecasting the impact of renewable energies in competition with non-renewable sources," Renewable and Sustainable Energy Reviews, Elsevier, vol. 81(P2), pages 1879-1886.
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    1. Crescenzo Pepe & Silvia Maria Zanoli, 2024. "Digitalization, Industry 4.0, Data, KPIs, Modelization and Forecast for Energy Production in Hydroelectric Power Plants: A Review," Energies, MDPI, vol. 17(4), pages 1-35, February.

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