Reviewing the Cost–Benefit Analysis and Multi-Criteria Decision-Making Methods for Evaluating the Effectiveness of Lithium-Ion Batteries in Electric Vehicles

Abstract

Lithium-ion batteries (LIBs) have a wide range of applications in different fields, starting with electronics and energy storage systems. The potential of LIBs in the transportation sector is high, especially for electric vehicles (EVs). This study aims to investigate the efficiency and effectiveness of, and justification for, the application of LIBs in the field of transport, primarily in EVs. The research focuses on single and multi-criteria evaluations of the efficiency of LIBs. Previous studies in which LIBs were evaluated using cost–benefit analysis (CBA) and multi-criteria decision-making methods (MCDM) were analysed. An electronic literature search of the Web of Science, Scopus, and other relevant databases was performed. The literature was searched using the keywords: “lithium-ion batteries”; “multi-criteria decision-making”; “cost-benefit analysis”; “energy storage”; “vehicles”; “PROMETHEE” (or other MCDM method)”. A total of 40 scientific articles concerning the application of CBA (of which are 20%) and MCDM methods between 1997 and 2023, worldwide, were analysed. The results show multiple applications of both CBA and MCDM methods. The main findings of the areas of application were summarised and future research was discussed.

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Analysis of Extreme Random Uncertainty in Energy and Environment Systems for Coal-Dependent City by a Copula-Based Interval Cost–Benefit Stochastic Approach

“…Additionally, the above methods fail to capture the effect of multiple uncertainties simultaneously on the system investment and benefit [23]. These shortcomings can be surmounted by cost-benefit analysis (CBA), which could evaluate present costs and benefits that can be achieved under the influence of multiple uncertainties [24,25].…”