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Risk assessment of photovoltaic - Energy storage utilization project based on improved Cloud-TODIM in China

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  • Yin, Yu
  • Liu, Jicheng

Abstract

“Photovoltaic + energy storage” is considered as one of the effective means to improve the efficiency of clean energy utilization. In the era of energy sharing, the “photovoltaic - energy storage - utilization (PVESU)" model can create a more favorable market environment. However, the various uncertainties in the construction of the PVESU project have become the main obstacles to the development of the PVESU model. This paper aims to evaluate the risk level of China's PVESU projects through an improved Cloud-TODIM (Cloud-an acronym in Portuguese for Interative Multi-criteria Decision Making) method. First of all, 18 critical risk factors are identified using the constructed five-dimensional risk analysis model. Secondly, the improved method is used to calculate the weight of the comprehensive criteria and rank 14 PVESU alternatives. Finally, the accuracy and feasibility of the hybrid method are verified by sensitivity analysis tests concluding the loss decay coefficient adjustment and comparison analysis with the Cloud-TOPSIS(Cloud-Technique for Order of Preference by Similarity to Ideal Solution) method. Meanwhile, in terms of energy storage, some suggestions are made for the future development of China's PVESU project. This study can also provide insightful enlightenment for PVESU project investors, risk management professionals and decision makers.

Suggested Citation

  • Yin, Yu & Liu, Jicheng, 2022. "Risk assessment of photovoltaic - Energy storage utilization project based on improved Cloud-TODIM in China," Energy, Elsevier, vol. 253(C).
    • Handle: RePEc:eee:energy:v:253:y:2022:i:c:s0360544222010805
    DOI: 10.1016/j.energy.2022.124177
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    1. Jing Yu & Jicheng Liu & Jiakang Sun & Mengyu Shi, 2023. "Evolutionary Game of Digital-Driven Photovoltaic–Storage–Use Value Chain Collaboration: A Value Intelligence Creation Perspective," Sustainability, MDPI, vol. 15(4), pages 1-30, February.
    2. Sun, Bo & Fan, Boyang & Zhang, Yifan & Xie, Jingdong, 2023. "Investment decisions and strategies of China's energy storage technology under policy uncertainty: A real options approach," Energy, Elsevier, vol. 278(PA).

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