TRIZ-driven assessment of sector-wise investment decisions in renewable energy projects through a novel integrated q-ROF-DEMATEL-SRP model

Abstract

Necessary actions should be taken to improve renewable energy investments to minimize the carbon emission problem. In this process, the most significant determinants should be identified for some reasons, such as using human and financial resources more effectively. However, there are limited studies in the literature that prioritize the analysis of these items. This situation can be accepted as a missing gap in the literature. Accordingly, this study evaluates sector-wise investment decisions in renewable energy projects. To do so, a novel integrated q-rung orthopair fuzzy set (q-ROFS) decision-making model has been generated. Firstly, the weights of the theory of the solution of inventive problems (TRIZ)-driven criteria are computed via the q-ROF decision-making trial and evaluation laboratory (DEMATEL) methodology. The second stage of the proposed model consists of selecting the most appropriate investment alternatives with the help of the q-ROFS-based simple ranking process (q-ROF SRP). The main contribution of this study is that key sector-wise investment decisions in renewable energy projects can be identified by establishing a novel decision-making model. The main superiority of the proposed model is that the DEMATEL method is extended to the q-ROFS context to determine the weights of the factors. With the help of this issue, uncertainties and subjective randomness in the decision-making process can be minimized. In addition to this situation, causal directions between these indicators can be taken into consideration for this condition. The findings indicate that possible extension with modularity is the most critical indicator for this situation. Similarly, resource efficiency is also found to be the most influencing item. In addition to them, the ranking results demonstrate that waste-to-energy technologies and energy storage systems are the most critical investment alternatives.