IDEAS home Printed from https://ideas.repec.org/a/gam/jmathe/v10y2021i1p71-d711462.html
   My bibliography  Save this article

A Hybrid Novel Fuzzy MCDM Method for Comprehensive Performance Evaluation of Pumped Storage Power Station in China

Author

Listed:
  • Peipei You

    (Department of Finance, Accounting and Auditing Research, State Grid Energy Research Institute, Beijing 102209, China)

  • Sijia Liu

    (Department of Finance, Accounting and Auditing Research, State Grid Energy Research Institute, Beijing 102209, China)

  • Sen Guo

    (School of Economics and Management, North China Electric Power University, Beijing 102206, China)

Abstract

Considering the goals of carbon peaking and carbon neutrality, along with their related policies, pumped storage power stations are set to develop quickly in China. The comprehensive performance of pumped storage power stations must urgently be evaluated, which can help investors in decision making and provide a reference for policymakers. In this paper, a hybrid novel fuzzy multicriteria decision-making (MCDM) method combining the fuzzy best worst method (BWM) and fuzzy TOPSIS was proposed for the comprehensive performance evaluation of pumped storage power stations in China. The fuzzy BWM was utilized to determine the criteria weights describing the comprehensive performance of pumped storage power stations, while the fuzzy TOPSIS was used to rank the comprehensive performance of pumped storage power stations. The index system for the comprehensive performance evaluation of pumped storage power stations in China incorporated economic, social, and environmental aspects. The comprehensive performance of four pumped storage power stations in China was empirically evaluated using the proposed hybrid novel fuzzy MCDM method, and the results indicate that pumped storage power station PSPS2 exhibited the best comprehensive performance, followed by pumped storage power stations PSPS1 and PSPS4, whereas pumped storage power station PSPS3 had the worst comprehensive performance. A sensitivity analysis and comparative analysis were also conducted. The results indicate that the proposed hybrid novel fuzzy MCDM method, combining the fuzzy BWM and fuzzy TOPSIS for comprehensive performance evaluation of pumped storage power stations, is robust and effective.

Suggested Citation

  • Peipei You & Sijia Liu & Sen Guo, 2021. "A Hybrid Novel Fuzzy MCDM Method for Comprehensive Performance Evaluation of Pumped Storage Power Station in China," Mathematics, MDPI, vol. 10(1), pages 1-25, December.
    • Handle: RePEc:gam:jmathe:v:10:y:2021:i:1:p:71-:d:711462
    as

    Download full text from publisher

    File URL: https://www.mdpi.com/2227-7390/10/1/71/pdf
    Download Restriction: no
    File URL: https://www.mdpi.com/2227-7390/10/1/71/
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Wang, Ying & Zhang, Dayong & Ji, Qiang & Shi, Xunpeng, 2020. "Regional renewable energy development in China: A multidimensional assessment," Renewable and Sustainable Energy Reviews, Elsevier, vol. 124(C).
    2. Mulder, Machiel & Scholtens, Bert, 2013. "The impact of renewable energy on electricity prices in the Netherlands," Renewable Energy, Elsevier, vol. 57(C), pages 94-100.
    3. Zakaria, A. & Ismail, Firas B. & Lipu, M.S. Hossain & Hannan, M.A., 2020. "Uncertainty models for stochastic optimization in renewable energy applications," Renewable Energy, Elsevier, vol. 145(C), pages 1543-1571.
    4. Ibrahim, H. & Ilinca, A. & Perron, J., 2008. "Energy storage systems--Characteristics and comparisons," Renewable and Sustainable Energy Reviews, Elsevier, vol. 12(5), pages 1221-1250, June.
    5. Das, Saborni & Basu, Mousumi, 2020. "Day-ahead optimal bidding strategy of microgrid with demand response program considering uncertainties and outages of renewable energy resources," Energy, Elsevier, vol. 190(C).
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Yudong Tan & Guosheng Xie & Yunhao Xiao & Yi Luo & Xintao Xie & Ming Wen, 2022. "Comprehensive Benefit Evaluation of Hybrid Pumped-Storage Power Stations Based on Improved Rank Correlation-Entropy Weight Method," Energies, MDPI, vol. 15(22), pages 1-17, November.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Àlex Alonso-Travesset & Helena Martín & Sergio Coronas & Jordi de la Hoz, 2022. "Optimization Models under Uncertainty in Distributed Generation Systems: A Review," Energies, MDPI, vol. 15(5), pages 1-40, March.
    2. Qi, Meng & Park, Jinwoo & Lee, Inkyu & Moon, Il, 2022. "Liquid air as an emerging energy vector towards carbon neutrality: A multi-scale systems perspective," Renewable and Sustainable Energy Reviews, Elsevier, vol. 159(C).
    3. Karellas, S. & Tzouganatos, N., 2014. "Comparison of the performance of compressed-air and hydrogen energy storage systems: Karpathos island case study," Renewable and Sustainable Energy Reviews, Elsevier, vol. 29(C), pages 865-882.
    4. Saif Jamal & Jagadeesh Pasupuleti & Nur Azzammudin Rahmat & Nadia M. L. Tan, 2022. "Energy Management System for Grid-Connected Nanogrid during COVID-19," Energies, MDPI, vol. 15(20), pages 1-20, October.
    5. Csereklyei, Zsuzsanna & Qu, Songze & Ancev, Tihomir, 2019. "The effect of wind and solar power generation on wholesale electricity prices in Australia," Energy Policy, Elsevier, vol. 131(C), pages 358-369.
    6. Ardizzon, G. & Cavazzini, G. & Pavesi, G., 2014. "A new generation of small hydro and pumped-hydro power plants: Advances and future challenges," Renewable and Sustainable Energy Reviews, Elsevier, vol. 31(C), pages 746-761.
    7. Shuang Rong & Weixing Li & Zhimin Li & Yong Sun & Taiyi Zheng, 2015. "Optimal Allocation of Thermal-Electric Decoupling Systems Based on the National Economy by an Improved Conjugate Gradient Method," Energies, MDPI, vol. 9(1), pages 1-21, December.
    8. Katla, Daria & Bartela, Łukasz & Skorek-Osikowska, Anna, 2020. "Evaluation of electricity generation subsystem of power-to-gas-to-power unit using gas expander and heat recovery steam generator," Energy, Elsevier, vol. 212(C).
    9. Silva, Ana R. & Pousinho, H.M.I. & Estanqueiro, Ana, 2022. "A multistage stochastic approach for the optimal bidding of variable renewable energy in the day-ahead, intraday and balancing markets," Energy, Elsevier, vol. 258(C).
    10. Díaz-González, Francisco & Sumper, Andreas & Gomis-Bellmunt, Oriol & Villafáfila-Robles, Roberto, 2012. "A review of energy storage technologies for wind power applications," Renewable and Sustainable Energy Reviews, Elsevier, vol. 16(4), pages 2154-2171.
    11. Mehrabankhomartash, Mahmoud & Rayati, Mohammad & Sheikhi, Aras & Ranjbar, Ali Mohammad, 2017. "Practical battery size optimization of a PV system by considering individual customer damage function," Renewable and Sustainable Energy Reviews, Elsevier, vol. 67(C), pages 36-50.
    12. Saima Akhtar & Sulman Shahzad & Asad Zaheer & Hafiz Sami Ullah & Heybet Kilic & Radomir Gono & Michał Jasiński & Zbigniew Leonowicz, 2023. "Short-Term Load Forecasting Models: A Review of Challenges, Progress, and the Road Ahead," Energies, MDPI, vol. 16(10), pages 1-29, May.
    13. Toledo, Olga Moraes & Oliveira Filho, Delly & Diniz, Antônia Sônia Alves Cardoso, 2010. "Distributed photovoltaic generation and energy storage systems: A review," Renewable and Sustainable Energy Reviews, Elsevier, vol. 14(1), pages 506-511, January.
    14. Rabiee, Abdorreza & Khorramdel, Hossein & Aghaei, Jamshid, 2013. "A review of energy storage systems in microgrids with wind turbines," Renewable and Sustainable Energy Reviews, Elsevier, vol. 18(C), pages 316-326.
    15. Wang, Yubin & Dong, Wei & Yang, Qiang, 2022. "Multi-stage optimal energy management of multi-energy microgrid in deregulated electricity markets," Applied Energy, Elsevier, vol. 310(C).
    16. Lim, Juin Yau & Teng, Sin Yong & How, Bing Shen & Nam, KiJeon & Heo, SungKu & Máša, Vítězslav & Stehlík, Petr & Yoo, Chang Kyoo, 2022. "From microalgae to bioenergy: Identifying optimally integrated biorefinery pathways and harvest scheduling under uncertainties in predicted climate," Renewable and Sustainable Energy Reviews, Elsevier, vol. 168(C).
    17. Morgan, Eric & Manwell, James & McGowan, Jon, 2014. "Wind-powered ammonia fuel production for remote islands: A case study," Renewable Energy, Elsevier, vol. 72(C), pages 51-61.
    18. Asaad Mohammad & Ramon Zamora & Tek Tjing Lie, 2020. "Integration of Electric Vehicles in the Distribution Network: A Review of PV Based Electric Vehicle Modelling," Energies, MDPI, vol. 13(17), pages 1-20, September.
    19. Goraj, Rafał & Kiciński, Marcin & Ślefarski, Rafał & Duczkowska, Anna, 2023. "Validity of decision criteria for selecting power-to-gas projects in Poland," Utilities Policy, Elsevier, vol. 83(C).
    20. Meng, Hui & Wang, Meihong & Olumayegun, Olumide & Luo, Xiaobo & Liu, Xiaoyan, 2019. "Process design, operation and economic evaluation of compressed air energy storage (CAES) for wind power through modelling and simulation," Renewable Energy, Elsevier, vol. 136(C), pages 923-936.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:gam:jmathe:v:10:y:2021:i:1:p:71-:d:711462. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: MDPI Indexing Manager (email available below). General contact details of provider: https://www.mdpi.com .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.