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Pathways to Energy Independence: Spherical Fuzzy Modeling for Decision Making in Energy Investments

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  • Hasan Dinçer
  • Serhat Yüksel
  • Serkan Eti
  • Merve Acar

Abstract

The purpose of this study is to identify critical strategies to provide energy independence. In this scope, a new fuzzy decision-making model is created to answer this question. This model has two different stages. In the first stage, selected criteria are weighted with spherical fuzzy DEMATEL. In the following stage, seven different investment alternatives are identified by considering the details of the literature review results. These alternatives are ranked by spherical fuzzy SAW. The main contribution of this study is that effective strategies can be presented to obtain energy independence. With the help of this issue, the countries can focus on the most appropriate issues without having budget deficit. Moreover, considering DEMATEL methodology to weight the criteria provides some benefits. Owing to this issue, the causal relationship among the determinants can be identified. The most important criterion in energy independence is improving technological improvement. On the other side, the ranking results indicate that nuclear and solar energy are the most critical investment alternatives for energy independence.

Suggested Citation

  • Hasan Dinçer & Serhat Yüksel & Serkan Eti & Merve Acar, 2024. "Pathways to Energy Independence: Spherical Fuzzy Modeling for Decision Making in Energy Investments," Journal of Sustainable Development Issues (JOSDI), SDIjournals, vol. 2(1), pages 1-10, June.
    • Handle: RePEc:arv:journl:v:2:y:2024:i:1:p:1-10
    DOI: 10.62433/josdi.v2i1.21
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    References listed on IDEAS

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    Keywords

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    JEL classification:

    • C80 - Mathematical and Quantitative Methods - - Data Collection and Data Estimation Methodology; Computer Programs - - - General
    • G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Micro Finance Institutions; Mortgages
    • O22 - Economic Development, Innovation, Technological Change, and Growth - - Development Planning and Policy - - - Project Analysis

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