Multiple criteria decision making (MCDM) based economic analysis of solar PV system with respect to performance investigation for Indian market

K. Padmanathan, Uma Govindarajan, Vigna Kumaran Ramachandaramurthy, T. Sudar Oli Selvi

Research output: Contribution to journalArticle

6 Citations (Scopus)

Abstract

Energy market is subject to changing energy demands on a daily basis. The increasing demand for energy necessitates the use of renewable sources and promotes decentralized generation. Specifically, solar PV is preferred in the energy market to meet the increasing energy demand. New approaches are preferred in the economic analysis to simulate multiple actor interplays and intermittent behavior in order to predict the increasing complexity in solar PV. In the Indian society, there are various myths and perceptions regarding economics of electricity generated through solar PV system. Therefore, this paper will address the various Life Cycle Cost Analysis (LCCA) and economic analysis for all types of consumers in the Indian electricity market. A detailed economic and performance study is made by considering ten categories and seven sub categories of investment plan for 1 MW solar projects using Multi Criteria Decision Making (MCDM). Analytic Hierarchy Process (AHP) is applied to support the decision.

Original languageEnglish
Article number820
JournalSustainability (Switzerland)
Volume9
Issue number5
DOIs
Publication statusPublished - 17 May 2017

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decision making criterion
energy market
Solar system
Economic analysis
economic analysis
solar system
electricity
Decision making
decision making
Economics
energy shortage
market
cost analysis
Analytic hierarchy process
energy
economics
performance
Life cycle
life cycle
Electricity

All Science Journal Classification (ASJC) codes

  • Geography, Planning and Development
  • Renewable Energy, Sustainability and the Environment
  • Management, Monitoring, Policy and Law

Cite this

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Multiple criteria decision making (MCDM) based economic analysis of solar PV system with respect to performance investigation for Indian market. / Padmanathan, K.; Govindarajan, Uma; Ramachandaramurthy, Vigna Kumaran; Sudar Oli Selvi, T.

In: Sustainability (Switzerland), Vol. 9, No. 5, 820, 17.05.2017.

Research output: Contribution to journalArticle

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