| Title |
Green energy and technology: choosing among alternatives / |
| Authors |
Azzopardi, Brian |
| DOI |
10.1007/978-981-4585-27-9_1 |
| ISBN |
9789814585262 |
| eISBN |
9789814585279 |
| Full Text |
|
| Is Part of |
Renewable energy integration: challenges and solutions / J. Hossain, A. Mahmud (eds).. Singapore : Springer, 2014. p. 1-16.. ISBN 9789814585262. eISBN 9789814585279 |
| Keywords [eng] |
decision making ; renewable energy system (RES) ; real options (RO) theory ; Mmlti-criteria analysis (MCA) |
| Abstract [eng] |
The primary renewable energy system (RES) investment decision-making criteria are economics. These criteria are focused on the RES and its support ancillary infrastructure technical superiorities, such as efficiency and cost, which is reasonable in the context of generous financial support schemes. However, when financial supports are phased out the energy market becomes technologically diversified environmental, political and social concerns, which include both quantitative as well as qualitative criteria, become significant. The technical superiorities may fail to describe RES or the relevant technology properly. This chapter is structured in two parts. Firstly, the available knowledge with regards to the general decision making processes is described, followed by a critical perspective about today’s decision making. The second part presents a review of three enhanced approaches using Real Options Theory, Multi-Criteria Decision Analysis and Multi-Criteria Cost Benefit Analysis which are applied to RES decision making both from the personal or investment point of view as well to the policy and the latter pan-European point of view. Finally, the society challenges are discussed within this context. |
| Published |
Singapore : Springer, 2014 |
| Type |
Book part |
| Language |
English |
| Publication date |
2014 |
