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Rationalising photovoltaic energy investments with multicriteria decision analysis: a Greek case study

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  • Pelopidas Siskos
  • Socrates Houridis

Abstract

During the last years, the global market of renewable energy resources is in a continuous growth. This paper deals with the decision making problem of a specific investor who is willing to invest in the development of a small photovoltaic park, in the Greek PV Market. The main objective of this paper is to structure this specific problem as a multicriteria decision problem. A set of eight alternative contractor companies, responsible for studying and manufacturing the PV system is identified and evaluated on 12 criteria which are grouped in three categories: company profile, financial and technical aspects of the submitted proposals. The paper outlines the implementation of the ELECTRE I multicriteria method in order to support the investor in choosing the best alternative. Although the method does not provide initially a single choice, a robustness analysis of the method follows so as the best available alternative to be selected.

Suggested Citation

  • Pelopidas Siskos & Socrates Houridis, 2011. "Rationalising photovoltaic energy investments with multicriteria decision analysis: a Greek case study," International Journal of Multicriteria Decision Making, Inderscience Enterprises Ltd, vol. 1(2), pages 205-229.
    • Handle: RePEc:ids:ijmcdm:v:1:y:2011:i:2:p:205-229
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