Photovoltaic power plants: a multicriteria approach to investment decisions and a case study in western Spain

Abstract

This paper proposes a Compromise Programming (CP) model to help investors decide whether to construct photovoltaic power plants with government financial support. For this purpose, we simulate an agreement between the government, who pursues political prices (guaranteed prices) as low as possible, and the project sponsor who wants returns (stochastic cash flows) as high as possible. The sponsor's decision depends on the positive or negative result of this simulation, the resulting simulated price being compared to the effective guaranteed price established by the country legislation for photovoltaic energy. To undertake the simulation, the CP model articulates variables such as ranges of guaranteed prices, technical characteristics of the plant, expected energy to be generated over the investment life, investment cost, cash flow probabilities, and others. To determine the CP metric, risk

A TODIM-Based Investment Decision Framework for Commercial Distributed PV Projects under the Energy Performance Contracting (EPC) Business Model: A Case in East-Central China

“…Li et al [6] considered extremes natural factors have adverse effects on PV power generation projects; (2) Impact of policies on the deployment and investment construction of DPV power generation projects [2,4,8]; (3) Economic analysis of PV power generation projects, including revenue, cost, net present value (NPV), and internal rate of return (IRR) [2,9]. Garcia et al [10] proposed a compromise model (CP) model that simulates the agreement between the government that pursues as high a political price (guaranteed price) as possible and the project sponsor who hopes to receive revenue (random cash flow) as high as possible. Zhou [11] considered the on-grid price adjustment in his PV investment decision and put forward three FIT models, namely fixed feed-in tariffs (FIT) (FFIT), constant premium FIT (CPFIT) and variable premium FIT (VPFIT) models.…”

A methodology for designing electrification programs for remote areas

“…As a result of these over costs, many PVRE programs have failed because ESCOs have abandoned the programs due to financial imbalances, thus not achieving the goal of ensuring access to affordable, reliable, sustainable and modern energy for all (see Chaurey andKandpal 2010 andvan der Vleuten et al 2007 for reviews). Garcia-Bernabeu et al (2016) propose a multicriteria approach to obtain a fair price to investors constructing photovoltaic power plants, via government support. Domenech et al (2019) use a multicriteria approach as well, assisting the promoters of wind-photovoltaic electrification projects.…”

A novel TOPSIS–CBR goal programming approach to sustainable healthcare treatment

“…Application of MCDM frameworks is rapidly increasing due to its capability to improve the quality of decision making by making the process more explicit, rational and efficient than classical methods of decision-making (Oliveira et al 2013) or decisions made by human brain, which can consider limited amount of information at one time. MCDM tools and techniques have been applied in many domains and successfully helped the process of decision making, including sustainable energy management (Streimikiene et al 2012;Garcia-Bernabeu et al 2016), transportation and logistics (Tzeng and Huang 2012;Tadic et al 2014), supply chain management (Govindan and Sivakumar 2016;Malviya and Kant 2016), budgeting (Tsai et al 2010;Tang and Chang 2012) and managerial and strategic planning (Banihabib et al 2016). MCDM methods are also frequently applied within health care field.…”