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Combined MCDA–IP Approach for Project Selection in the Electricity Market

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  • G. Mavrotas
  • D. Diakoulaki
  • P. Capros

Abstract

The European policy target of substantially increasing the share of renewable energy in electricity generation, in combination with national subsidization support schemes, has strongly motivated private investors towards this business sector. In Greece, this interest is particularly apparent in the case of wind energy exploitation, due to a favourable legislative framework and the important wind potential available in several Greek regions. In such endowed regions, a very high number of applications were submitted to the competent authority, most of which compete for the same most attractive (windy) sites. The selection among these applications is a multicriteria problem that has been solved with the support of a Decision-Aid tool combining the multicriteria classification method ELECTRE-TRI with Integer Linear Programming. The developed approach takes into account both, the performances of the applications to the evaluation criteria, as well as a number of technical and policy constraints. Copyright Kluwer Academic Publishers 2003

Suggested Citation

  • G. Mavrotas & D. Diakoulaki & P. Capros, 2003. "Combined MCDA–IP Approach for Project Selection in the Electricity Market," Annals of Operations Research, Springer, vol. 120(1), pages 159-170, April.
    • Handle: RePEc:spr:annopr:v:120:y:2003:i:1:p:159-170:10.1023/a:1023382514182
    DOI: 10.1023/A:1023382514182
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    Cited by:

    1. Panos Xidonas & Haris Doukas & George Mavrotas & Olena Pechak, 2016. "Environmental corporate responsibility for investments evaluation: an alternative multi-objective programming model," Annals of Operations Research, Springer, vol. 247(2), pages 395-413, December.
    2. Eduardo Fernandez & Jorge Navarro & Edgar Covantes & Jorge Rodriguez, 2017. "Analysis of the effectiveness of the theseus multi-criteria sorting method: theoretical remarks and experimental evidence," TOP: An Official Journal of the Spanish Society of Statistics and Operations Research, Springer;Sociedad de Estadística e Investigación Operativa, vol. 25(2), pages 314-339, July.
    3. Doukas, Haris & Patlitzianas, Konstantinos D. & Psarras, John, 2006. "Supporting sustainable electricity technologies in Greece using MCDM," Resources Policy, Elsevier, vol. 31(2), pages 129-136, June.
    4. Dylan F. Jones & Graham Wall, 2016. "An extended goal programming model for site selection in the offshore wind farm sector," Annals of Operations Research, Springer, vol. 245(1), pages 121-135, October.
    5. Casado, Ramon Swell Gomes Rodrigues & Alencar, Marcelo Hazin & de Almeida, Adiel Teixeira, 2022. "Combining a multidimensional risk evaluation with an implicit enumeration algorithm to tackle the portfolio selection problem of a natural gas pipeline," Reliability Engineering and System Safety, Elsevier, vol. 221(C).
    6. Ana Garcia-Bernabeu & Antonio Benito & Mila Bravo & David Pla-Santamaria, 2016. "Photovoltaic power plants: a multicriteria approach to investment decisions and a case study in western Spain," Annals of Operations Research, Springer, vol. 245(1), pages 163-175, October.
    7. Mavrotas, G. & Diakoulaki, D. & Caloghirou, Y., 2006. "Project prioritization under policy restrictions. A combination of MCDA with 0-1 programming," European Journal of Operational Research, Elsevier, vol. 171(1), pages 296-308, May.
    8. Mavrotas, George & Diakoulaki, Danae & Kourentzis, Athanasios, 2008. "Selection among ranked projects under segmentation, policy and logical constraints," European Journal of Operational Research, Elsevier, vol. 187(1), pages 177-192, May.
    9. Kim, Kyoung-Kuk & Lee, Chi-Guhn, 2012. "Evaluation and optimization of feed-in tariffs," Energy Policy, Elsevier, vol. 49(C), pages 192-203.
    10. A. Nureize & J. Watada & S. Wang, 2014. "Fuzzy random regression based multi-attribute evaluation and its application to oil palm fruit grading," Annals of Operations Research, Springer, vol. 219(1), pages 299-315, August.
    11. Fernández Carazo, Ana & Gómez Núñez, Trinidad & Guerrero Casas, Flor M. & Caballero Fernández, Rafael, 2008. "Evaluación y clasificación de las técnicas utilizadas por las organizaciones, en las últimas décadas, para seleccionar proyectos = Evaluation and classification of the techniques used by organizations," Revista de Métodos Cuantitativos para la Economía y la Empresa = Journal of Quantitative Methods for Economics and Business Administration, Universidad Pablo de Olavide, Department of Quantitative Methods for Economics and Business Administration, vol. 5(1), pages 67-115, June.
    12. Strantzali, Eleni & Aravossis, Konstantinos, 2016. "Decision making in renewable energy investments: A review," Renewable and Sustainable Energy Reviews, Elsevier, vol. 55(C), pages 885-898.
    13. Jules Raymond Kala & Didier Michael Kre & Armelle N’Guessan Gnassou & Jean Robert Kamdjoug Kala & Yves Melaine Akpablin Akpablin & Tiorna Coulibaly, 2022. "Assets management on electrical grid using Faster-RCNN," Annals of Operations Research, Springer, vol. 308(1), pages 307-320, January.
    14. Almeida-Dias, J. & Figueira, J.R. & Roy, B., 2010. "Electre Tri-C: A multiple criteria sorting method based on characteristic reference actions," European Journal of Operational Research, Elsevier, vol. 204(3), pages 565-580, August.
    15. Shmelev, Stanislav E. & van den Bergh, Jeroen C.J.M., 2016. "Optimal diversity of renewable energy alternatives under multiple criteria: An application to the UK," Renewable and Sustainable Energy Reviews, Elsevier, vol. 60(C), pages 679-691.
    16. Valentin Bertsch & Wolf Fichtner, 2016. "A participatory multi-criteria approach for power generation and transmission planning," Annals of Operations Research, Springer, vol. 245(1), pages 177-207, October.
    17. Kadziński, Miłosz & Ciomek, Krzysztof & Słowiński, Roman, 2015. "Modeling assignment-based pairwise comparisons within integrated framework for value-driven multiple criteria sorting," European Journal of Operational Research, Elsevier, vol. 241(3), pages 830-841.

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