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Dynamic Comprehensive Benefit Evaluation of the Transnational Power Grid Interconnection Project Based on Combination Weighting and TOPSIS Grey Projection Method

Author

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  • Jinying Li

    (Department of Economics and Management, North China Electric Power University, Baoding 071003, China)

  • Jiaming Xu

    (Department of Economics and Management, North China Electric Power University, Baoding 071003, China)

  • Xin Tan

    (Department of Economics and Management, North China Electric Power University, Baoding 071003, China)

Abstract

With the rapid development of the global economy, the interconnection of power grids has become an objective law and a trend of the power industry development. The implementation of power grid interconnection projects, especially transnational power grid interconnection projects, will bring us substantial benefits. To demonstrate these benefits comprehensively, we designed a comprehensive evaluation index system with multiple international engineering characteristics. The index system takes the influencing factors of economic, social, environmental and technical benefits into account. In order to improve the rigidity and power of weight determination, we proposed the least squares method which combines the order relation method and the factor analysis method. Furthermore, the limitation of the one-way evaluation was effectively overcome by combining TOPSIS (Technique for Order Preference by Similarity to an Ideal Solution), grey relation analysis method and vector projection method. In addition, we adjusted the potential impact of the time on evaluation by using the quadratic weighted algorithm, so that we can dynamically evaluate the comprehensive benefits. Finally, we verified the established index system and evaluation model through an example of eight different investment plans of a transnational high voltage direct current (HVDC) transmission project. Altogether, results from this paper will provide a guidance reference and decision support for the grid corporation to invest in transnational power grid interconnection projects.

Suggested Citation

  • Jinying Li & Jiaming Xu & Xin Tan, 2018. "Dynamic Comprehensive Benefit Evaluation of the Transnational Power Grid Interconnection Project Based on Combination Weighting and TOPSIS Grey Projection Method," Sustainability, MDPI, vol. 10(12), pages 1-15, December.
    • Handle: RePEc:gam:jsusta:v:10:y:2018:i:12:p:4672-:d:188890
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    References listed on IDEAS

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