IDEAS home Printed from https://ideas.repec.org/a/eee/tefoso/v215y2025ics0040162525001477.html
   My bibliography  Save this article

A multi-criterion decision making method for renewable energy storage technology selection with incomplete evaluation information

Author

Listed:
  • Liao, Huchang
  • Li, Xiaofang

Abstract

Selecting renewable energy storage technologies (RESTs) requires experts with knowledge in different fields to evaluate RESTs under different criteria. However, specialists are usually proficient in a particular field and thus are difficult to provide complete evaluation information of alternatives on all criteria. Besides, different decision makers (DMs) have different risk attitudes on potential risks and benefits. This study proposes a multi-criterion decision making model that considers the causality between criteria, the incomplete evaluation information from specialists, and different risk attitudes of DMs. First, the DEMATEL is used to analyze the causality between criteria and elicit criteria weights, and the interpretive structural modeling is utilized to construct the hierarchical relationship diagram of criteria. Based on the causality of criteria, a Bayesian network is constructed to infer the missing evaluation information of alternatives under the criteria unfamiliar to specialists. Alternatives are then ranked by combining the improved cumulative prospect theory and the combined compromise solution method. An illustrative example is given to validate the applicability of the proposed model. Sensitivity analysis and simulation experiment are given to explore the influence of DMs' risk attitudes to loss and gain on the ranking of alternatives.

Suggested Citation

  • Liao, Huchang & Li, Xiaofang, 2025. "A multi-criterion decision making method for renewable energy storage technology selection with incomplete evaluation information," Technological Forecasting and Social Change, Elsevier, vol. 215(C).
  • Handle: RePEc:eee:tefoso:v:215:y:2025:i:c:s0040162525001477
    DOI: 10.1016/j.techfore.2025.124116
    as

    Download full text from publisher

    File URL: http://www.sciencedirect.com/science/article/pii/S0040162525001477
    Download Restriction: Full text for ScienceDirect subscribers only

    File URL: https://libkey.io/10.1016/j.techfore.2025.124116?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to

    for a different version of it.

    References listed on IDEAS

    as
    1. Büyüközkan, Gülçin & Uztürk, Deniz & Maden, Ayça, 2023. "Influential factor analysis for cloud computing technology service provider," Technological Forecasting and Social Change, Elsevier, vol. 192(C).
    2. Sharma, Gagan Deep & Verma, Mahesh & Taheri, Babak & Chopra, Ritika & Parihar, Jaya Singh, 2023. "Socio-economic aspects of hydrogen energy: An integrative review," Technological Forecasting and Social Change, Elsevier, vol. 192(C).
    3. Dohale, Vishwas & Kamble, Sachin & Ambilkar, Priya & Gold, Stefan & Belhadi, Amine, 2024. "An integrated MCDM-ML approach for predicting the carbon neutrality index in manufacturing supply chains," Technological Forecasting and Social Change, Elsevier, vol. 201(C).
    4. Martyn, Krzysztof & Kadziński, Miłosz, 2023. "Deep preference learning for multiple criteria decision analysis," European Journal of Operational Research, Elsevier, vol. 305(2), pages 781-805.
    5. Tversky, Amos & Kahneman, Daniel, 1992. "Advances in Prospect Theory: Cumulative Representation of Uncertainty," Journal of Risk and Uncertainty, Springer, vol. 5(4), pages 297-323, October.
    6. Sitorus, Fernando & Brito-Parada, Pablo R., 2020. "A multiple criteria decision making method to weight the sustainability criteria of renewable energy technologies under uncertainty," Renewable and Sustainable Energy Reviews, Elsevier, vol. 127(C).
    7. Anderson, Katharine A., 2012. "Specialists and generalists: Equilibrium skill acquisition decisions in problem-solving populations," Journal of Economic Behavior & Organization, Elsevier, vol. 84(1), pages 463-473.
    8. Shankar, Ravi & Pathak, Devendra Kumar & Choudhary, Devendra, 2019. "Decarbonizing freight transportation: An integrated EFA-TISM approach to model enablers of dedicated freight corridors," Technological Forecasting and Social Change, Elsevier, vol. 143(C), pages 85-100.
    9. Chaab, Jafar & Zaccour, Georges, 2024. "Dynamic pricing in the presence of social externalities and reference-price effect," Omega, Elsevier, vol. 122(C).
    10. Oner, Oytun & Khalilpour, Kaveh, 2022. "Evaluation of green hydrogen carriers: A multi-criteria decision analysis tool," Renewable and Sustainable Energy Reviews, Elsevier, vol. 168(C).
    11. Mousavi, M. & Gitinavard, H. & Mousavi, S.M., 2017. "A soft computing based-modified ELECTRE model for renewable energy policy selection with unknown information," Renewable and Sustainable Energy Reviews, Elsevier, vol. 68(P1), pages 774-787.
    12. Sorooshian, Shahryar & Tavana, Madjid & Ribeiro-Navarrete, Samuel, 2023. "From classical interpretive structural modeling to total interpretive structural modeling and beyond: A half-century of business research," Journal of Business Research, Elsevier, vol. 157(C).
    13. Morteza Yazdani & Pascale Zaraté & Edmundas Kazimieras Zavadskas & Zenonas Turskis, 2019. "A Combined Compromise Solution (CoCoSo) method for multi-criteria decision-making problems," Post-Print hal-02879091, HAL.
    14. Wu, Yunna & Xu, Chuanbo & Zhang, Ting, 2018. "Evaluation of renewable power sources using a fuzzy MCDM based on cumulative prospect theory: A case in China," Energy, Elsevier, vol. 147(C), pages 1227-1239.
    15. He, Fan & Leach, Matthew & Short, Michael & Fan, Yurui & Liu, Lirong, 2025. "A copula-based whole system model to understand the environmental and economic impacts of grid-scale energy storage," Applied Energy, Elsevier, vol. 379(C).
    16. Büyüközkan, Gülçin & Güleryüz, Sezin & Karpak, Birsen, 2017. "A new combined IF-DEMATEL and IF-ANP approach for CRM partner evaluation," International Journal of Production Economics, Elsevier, vol. 191(C), pages 194-206.
    17. Bao, Minghan & Arzaghi, Ehsan & Abaei, Mohammad Mahdi & Abbassi, Rouzbeh & Garaniya, Vikram & Abdussamie, Nagi & Heasman, Kevin, 2024. "Site selection for offshore renewable energy platforms: A multi-criteria decision-making approach," Renewable Energy, Elsevier, vol. 229(C).
    18. Leoneti, Alexandre Bevilacqua & Gomes, Luiz Flavio Autran Monteiro, 2021. "A novel version of the TODIM method based on the exponential model of prospect theory: The ExpTODIM method," European Journal of Operational Research, Elsevier, vol. 295(3), pages 1042-1055.
    19. Sindhu, Sonal & Nehra, Vijay & Luthra, Sunil, 2016. "Identification and analysis of barriers in implementation of solar energy in Indian rural sector using integrated ISM and fuzzy MICMAC approach," Renewable and Sustainable Energy Reviews, Elsevier, vol. 62(C), pages 70-88.
    20. Cui, Li & Chan, Hing Kai & Zhou, Yizhuo & Dai, Jing & Lim, Jia Jia, 2019. "Exploring critical factors of green business failure based on Grey-Decision Making Trial and Evaluation Laboratory (DEMATEL)," Journal of Business Research, Elsevier, vol. 98(C), pages 450-461.
    21. Ahani, Ali & Nilashi, Mehrbakhsh & Yadegaridehkordi, Elaheh & Sanzogni, Louis & Tarik, A. Rashid & Knox, Kathy & Samad, Sarminah & Ibrahim, Othman, 2019. "Revealing customers’ satisfaction and preferences through online review analysis: The case of Canary Islands hotels," Journal of Retailing and Consumer Services, Elsevier, vol. 51(C), pages 331-343.
    22. Ander Zubiria & Álvaro Menéndez & Hans-Jürgen Grande & Pilar Meneses & Gregorio Fernández, 2022. "Multi-Criteria Decision-Making Problem for Energy Storage Technology Selection for Different Grid Applications," Energies, MDPI, vol. 15(20), pages 1-25, October.
    23. Xiaotong Qie & Rui Zhang & Yanyong Hu & Xialing Sun & Xue Chen, 2021. "A Multi-Criteria Decision-Making Approach for Energy Storage Technology Selection Based on Demand," Energies, MDPI, vol. 14(20), pages 1-29, October.
    24. Mancuso, A. & Compare, M. & Salo, A. & Zio, E., 2021. "Optimal Prognostics and Health Management-driven inspection and maintenance strategies for industrial systems," Reliability Engineering and System Safety, Elsevier, vol. 210(C).
    25. Kumar, Girish & James, Ajith Tom & Choudhary, Krishna & Sahai, Rishi & Song, Weon Keun, 2022. "Investigation and analysis of implementation challenges for autonomous vehicles in developing countries using hybrid structural modeling," Technological Forecasting and Social Change, Elsevier, vol. 185(C).
    Full references (including those not matched with items on IDEAS)

    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. Pratibha Rani & Jabir Ali & Raghunathan Krishankumar & Arunodaya Raj Mishra & Fausto Cavallaro & Kattur S. Ravichandran, 2021. "An Integrated Single-Valued Neutrosophic Combined Compromise Solution Methodology for Renewable Energy Resource Selection Problem," Energies, MDPI, vol. 14(15), pages 1-23, July.
    2. Yu, Yang & Wu, Shibo & Yu, Jianxing & Xu, Ya & Song, Lin & Xu, Weipeng, 2022. "A hybrid multi-criteria decision-making framework for offshore wind turbine selection: A case study in China," Applied Energy, Elsevier, vol. 328(C).
    3. Yang, Zaoli & Li, Qin & Charles, Vincent & Xu, Bing & Gupta, Shivam, 2023. "Supporting personalized new energy vehicle purchase decision-making: Customer reviews and product recommendation platform," International Journal of Production Economics, Elsevier, vol. 265(C).
    4. Zhao, Meng & Xu, Chang & Zhao, Wenxian & Lin, Mingwei, 2023. "New energy vehicle online selection method considering attribute compensation relationship and aspiration strength," Journal of Retailing and Consumer Services, Elsevier, vol. 75(C).
    5. Jianguo Di & Wenge Liu & Jiaqi Sun & Dianfeng Zhang, 2025. "Market Potential Evaluation of Photovoltaic Technologies in the Context of Future Architectural Trends," Sustainability, MDPI, vol. 17(3), pages 1-27, January.
    6. Yuan, Jiahai & Li, Xinying & Xu, Chuanbo & Zhao, Changhong & Liu, Yuanxin, 2019. "Investment risk assessment of coal-fired power plants in countries along the Belt and Road initiative based on ANP-Entropy-TODIM method," Energy, Elsevier, vol. 176(C), pages 623-640.
    7. Nebiyu Kedir & Phuong H. D. Nguyen & Citlaly Pérez & Pedro Ponce & Aminah Robinson Fayek, 2023. "Systematic Literature Review on Fuzzy Hybrid Methods in Photovoltaic Solar Energy: Opportunities, Challenges, and Guidance for Implementation," Energies, MDPI, vol. 16(9), pages 1-38, April.
    8. Leoneti, Alexandre Bevilacqua & Gomes, Luiz Flavio Autran Monteiro, 2021. "Modeling multicriteria group decision making as games from enhanced pairwise comparisons," Operations Research Perspectives, Elsevier, vol. 8(C).
    9. Ilbahar, Esra & Kahraman, Cengiz & Cebi, Selcuk, 2022. "Risk assessment of renewable energy investments: A modified failure mode and effect analysis based on prospect theory and intuitionistic fuzzy AHP," Energy, Elsevier, vol. 239(PA).
    10. Arunodaya Raj Mishra & Pratibha Rani & Raghunathan Krishankumar & Edmundas Kazimieras Zavadskas & Fausto Cavallaro & Kattur S. Ravichandran, 2021. "A Hesitant Fuzzy Combined Compromise Solution Framework-Based on Discrimination Measure for Ranking Sustainable Third-Party Reverse Logistic Providers," Sustainability, MDPI, vol. 13(4), pages 1-24, February.
    11. Nana Liu & Zeshui Xu & Yue He & Xiao-Jun Zeng, 2021. "An inverse prospect theory-based algorithm in extended incomplete additive probabilistic linguistic preference relation environment and its application in financial products selection," Fuzzy Optimization and Decision Making, Springer, vol. 20(3), pages 397-428, September.
    12. Torkayesh, Ali Ebadi & Alizadeh, Reza & Soltanisehat, Leili & Torkayesh, Sajjad Ebadi & Lund, Peter D., 2022. "A comparative assessment of air quality across European countries using an integrated decision support model," Socio-Economic Planning Sciences, Elsevier, vol. 81(C).
    13. Kubińska, Elżbieta & Adamczyk-Kowalczuk, Magdalena & Andrzejewski, Mariusz & Rozakis, Stelios, 2022. "Incorporating the status quo effect into the decision making process: The case of municipal companies merger," Socio-Economic Planning Sciences, Elsevier, vol. 84(C).
    14. Wu, Peng & Sun, Shiyong & Zhou, Ligang & Yao, Yao & Deveci, Muhammet, 2025. "Platforms empower: Mining online reviews for supporting consumers decisions," Journal of Retailing and Consumer Services, Elsevier, vol. 84(C).
    15. Krishankumar, Raghunathan & Pamucar, Dragan & Deveci, Muhammat & Aggarwal, Manish & Ravichandran, Kattur Soundarapandian, 2022. "Assessment of renewable energy sources for smart cities’ demand satisfaction using multi-hesitant fuzzy linguistic based choquet integral approach," Renewable Energy, Elsevier, vol. 189(C), pages 1428-1442.
    16. Aihua Li, 2024. "Human error risk prioritization in crane operations based on CPT and ICWGT," PLOS ONE, Public Library of Science, vol. 19(2), pages 1-24, February.
    17. Fangming Cheng & Zhuo Li & Chang Su & Jiao Qu & Meng Jiang & Hanzhang Ge & Linan Wang & Ziyan Gou, 2023. "Optimization of Emergency Alternatives for Hydrogen Leakage and Explosion Accidents Based on Improved VIKOR," Energies, MDPI, vol. 16(22), pages 1-17, November.
    18. Tatar, Veysel & Ayvaz, Berk & Pamucar, Dragan, 2025. "Analysis of renewable energy investments in China's BRI middle corridor using spherical fuzzy decision-making framework," Renewable Energy, Elsevier, vol. 244(C).
    19. Wu, Yunna & Ke, Yiming & Xu, Chuanbo & Li, Lingwenying, 2019. "An integrated decision-making model for sustainable photovoltaic module supplier selection based on combined weight and cumulative prospect theory," Energy, Elsevier, vol. 181(C), pages 1235-1251.
    20. Feng, Jianghong & Guo, Ping & Xu, Guangyi & Xu, Gangyan & Ning, Yu, 2024. "An integrated decision framework for resilient sustainable waste electric vehicle battery recycling transfer station site selection," Applied Energy, Elsevier, vol. 373(C).

    More about this item

    Keywords

    ;
    ;
    ;
    ;
    ;

    Statistics

    Access and download statistics

    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:eee:tefoso:v:215:y:2025:i:c:s0040162525001477. 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: Catherine Liu (email available below). General contact details of provider: http://www.sciencedirect.com/science/journal/00401625 .

    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.