Comprehensive Benefit Evaluation of Power Grid Investment Considering Renewable Energy Development from the Perspective of Sustainability

Abstract

To cope with the rapid development of renewable energy, the power grid system needs to invest in and construct transmission and distribution projects. Means of evaluating the economic, social, and environmental benefits generated by power grid investment are of great significance for enterprise cost recovery and government policy formulation. In this paper, an evaluation of the comprehensive benefit of a power grid investment considering renewable energy development from the perspective of sustainability is developed through the use of a hybrid multi-criteria decision-making (MCDM) method. The entropy weight method and fuzzy best worst method (BWM) are jointly employed to weight the comprehensive benefit criteria, which include economic, social, and environmental criteria and eight sub-criteria, and the measurement of alternatives and ranking according to compromise solution (MARCOS) method is utilized to evaluate the comprehensive benefit of a power grid investment. Five power grid investment projects for connecting renewable energy generation to a power grid in Ningxia, China, are selected as a case study, and the results indicate that the power grid investment project PGIP#1 has the largest comprehensive benefit (0.7099), followed by PGIP#3 (0.6800), PGIP#2 (0.6709), PGIP#5 (0.5959), and PGIP#4 (0.5861). The sensitivity analysis shows that the comprehensive benefit of PGIP#1 is always the best, indicating the robustness of the proposed method. By employing the proposed MCDM method to assess the comprehensive benefit of power grid investment projects, this research identifies outstanding projects which can provide guidance for the management of power grid investment and promote the sustainable development of the power industry.

Promoting the Low-Carbon Transition of Power Construction Projects under MRV: An Evolutionary Game Analysis

“…In recent years, evolutionary game theory has been widely used to study the problem of the existence of rent-seeking behavior among the subjects of large-scale projects and their respective behavioral-strategy choices. In order to seek a low-carbon transition path in the context of carbon neutrality, Tian et al [31] analyzed the complex relationship between producers, regulators, third-party-verification agencies, and consumers with the help of evolutionary game theory. Wang et al [32] established a tripartite evolutionary game model of the government, the energy industry and the third-party clean-energy regulatory auditor, aiming to solve the dilemma of clean-energy-technology promotion in China and to enhance the subjects' resistance to rent-seeking behaviors.…”

“…Based on the above assumptions, the expected benefits of the power grid company, construction units, and carbon third-party-verification agencies under different strategy choices are presented in the decision tree, as shown in Figure 2. [26,31,36]…”

Highway Microgrid Project Evaluation under Energy Transportation Integration

“…The method averted the problem of excessive weight of any indicators. Tian et al [16] adopted a compromise solution between the entropy weight method and the fuzzy best-worst method to evaluate the model, and realized the sustainable development of power grid investment. Qi et al [17] used the entropy theory based on the principal component analysis method to analyze the thermal power units.…”