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Selection of Renewable Energy Projects from the Investor’s Point of View Based on the Fuzzy–Rough Approach and the Bonferroni Mean Operator

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  • Ibrahim Krayem A. El-Jaberi

    (FIMEK—Faculty of Economics and Engineering Management, University Business Academy in Novi Sad, Cvećarska 2, 21102 Novi Sad, Serbia)

  • Ilija Stojanović

    (College of Business Administration, American University in the Emirates, Dubai International Academic City, Dubai P.O. Box 503000, United Arab Emirates)

  • Adis Puška

    (Department of Public Safety, Government of Brčko District of Bosnia and Herzegovina, Bulevara Mira 1, 76100 Brčko, Bosnia and Herzegovina)

  • Nikolina Ljepava

    (College of Business Administration, American University in the Emirates, Dubai International Academic City, Dubai P.O. Box 503000, United Arab Emirates)

  • Radivoj Prodanović

    (FIMEK—Faculty of Economics and Engineering Management, University Business Academy in Novi Sad, Cvećarska 2, 21102 Novi Sad, Serbia)

Abstract

More and more investments are being made in energy conversion projects from renewable energy sources (RESs), and a large number of investors are entering this sector. The focus of this study is the decision-making by the investor BD Green Energy in the Brčko District of Bosnia and Herzegovina. In order to choose the RES system that would realize this investment in the most efficient way, expert decision-making based on the fuzzy–rough approach and the Bonferroni mean operator was used. Determining the importance of the criteria was conducted using the fuzzy–rough SiWeC (simple weight calculation) method. The results of this method showed that all used criteria have similar importance for the investor. RES system selection was conducted using the fuzzy–rough CoCoSo (combined compromise solution) method. The results of this method showed that investing in photovoltaic (PV) energy is the best for the investor. This research provided guidance on how investors should make investment decisions in RES systems with incomplete information and uncertainty in the decision-making process.

Suggested Citation

  • Ibrahim Krayem A. El-Jaberi & Ilija Stojanović & Adis Puška & Nikolina Ljepava & Radivoj Prodanović, 2024. "Selection of Renewable Energy Projects from the Investor’s Point of View Based on the Fuzzy–Rough Approach and the Bonferroni Mean Operator," Sustainability, MDPI, vol. 16(22), pages 1-17, November.
    • Handle: RePEc:gam:jsusta:v:16:y:2024:i:22:p:9929-:d:1520917
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    References listed on IDEAS

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    1. Morteza Yazdani & Pascale Zaraté & Edmundas Kazimieras Zavadskas & Zenonas Turskis, 2019. "A Combined Compromise Solution (CoCoSo) method for multi-criteria decision-making problems," Post-Print hal-02879091, HAL.
    2. Saraswat, S.K. & Digalwar, Abhijeet K., 2021. "Evaluation of energy alternatives for sustainable development of energy sector in India: An integrated Shannon’s entropy fuzzy multi-criteria decision approach," Renewable Energy, Elsevier, vol. 171(C), pages 58-74.
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