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Combined MCDA–IP Approach for Project Selection in the Electricity Market

Author

Listed:
  • G. Mavrotas
  • D. Diakoulaki

    ()

  • P. Capros

Abstract

The European policy target of substantially increasing the share of renewable energy in electricity generation, in combination with national subsidization support schemes, has strongly motivated private investors towards this business sector. In Greece, this interest is particularly apparent in the case of wind energy exploitation, due to a favourable legislative framework and the important wind potential available in several Greek regions. In such endowed regions, a very high number of applications were submitted to the competent authority, most of which compete for the same most attractive (windy) sites. The selection among these applications is a multicriteria problem that has been solved with the support of a Decision-Aid tool combining the multicriteria classification method ELECTRE-TRI with Integer Linear Programming. The developed approach takes into account both, the performances of the applications to the evaluation criteria, as well as a number of technical and policy constraints. Copyright Kluwer Academic Publishers 2003

Suggested Citation

  • G. Mavrotas & D. Diakoulaki & P. Capros, 2003. "Combined MCDA–IP Approach for Project Selection in the Electricity Market," Annals of Operations Research, Springer, vol. 120(1), pages 159-170, April.
  • Handle: RePEc:spr:annopr:v:120:y:2003:i:1:p:159-170:10.1023/a:1023382514182
    DOI: 10.1023/A:1023382514182
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    Citations

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    Cited by:

    1. Fernández Carazo, Ana & Gómez Núñez, Trinidad & Guerrero Casas, Flor M. & Caballero Fernández, Rafael, 2008. "Evaluación y clasificación de las técnicas utilizadas por las organizaciones, en las últimas décadas, para seleccionar proyectos = Evaluation and classification of the techniques used by organizations," Revista de Métodos Cuantitativos para la Economía y la Empresa = Journal of Quantitative Methods for Economics and Business Administration, Universidad Pablo de Olavide, Department of Quantitative Methods for Economics and Business Administration, vol. 5(1), pages 67-115, June.
    2. repec:spr:annopr:v:247:y:2016:i:2:d:10.1007_s10479-015-1820-x is not listed on IDEAS
    3. repec:spr:topjnl:v:25:y:2017:i:2:d:10.1007_s11750-016-0433-0 is not listed on IDEAS
    4. Doukas, Haris & Patlitzianas, Konstantinos D. & Psarras, John, 2006. "Supporting sustainable electricity technologies in Greece using MCDM," Resources Policy, Elsevier, vol. 31(2), pages 129-136, June.
    5. repec:spr:annopr:v:245:y:2016:i:1:d:10.1007_s10479-015-1828-2 is not listed on IDEAS
    6. Strantzali, Eleni & Aravossis, Konstantinos, 2016. "Decision making in renewable energy investments: A review," Renewable and Sustainable Energy Reviews, Elsevier, vol. 55(C), pages 885-898.
    7. repec:spr:annopr:v:245:y:2016:i:1:d:10.1007_s10479-015-1836-2 is not listed on IDEAS
    8. Mavrotas, G. & Diakoulaki, D. & Caloghirou, Y., 2006. "Project prioritization under policy restrictions. A combination of MCDA with 0-1 programming," European Journal of Operational Research, Elsevier, vol. 171(1), pages 296-308, May.
    9. Almeida-Dias, J. & Figueira, J.R. & Roy, B., 2010. "Electre Tri-C: A multiple criteria sorting method based on characteristic reference actions," European Journal of Operational Research, Elsevier, vol. 204(3), pages 565-580, August.
    10. Mavrotas, George & Diakoulaki, Danae & Kourentzis, Athanasios, 2008. "Selection among ranked projects under segmentation, policy and logical constraints," European Journal of Operational Research, Elsevier, vol. 187(1), pages 177-192, May.
    11. Shmelev, Stanislav E. & van den Bergh, Jeroen C.J.M., 2016. "Optimal diversity of renewable energy alternatives under multiple criteria: An application to the UK," Renewable and Sustainable Energy Reviews, Elsevier, vol. 60(C), pages 679-691.
    12. Kim, Kyoung-Kuk & Lee, Chi-Guhn, 2012. "Evaluation and optimization of feed-in tariffs," Energy Policy, Elsevier, vol. 49(C), pages 192-203.
    13. repec:spr:annopr:v:245:y:2016:i:1:d:10.1007_s10479-015-1791-y is not listed on IDEAS
    14. Kadziński, Miłosz & Ciomek, Krzysztof & Słowiński, Roman, 2015. "Modeling assignment-based pairwise comparisons within integrated framework for value-driven multiple criteria sorting," European Journal of Operational Research, Elsevier, vol. 241(3), pages 830-841.

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