Analysis of renewable-friendly smart grid technologies for the distributed energy investment projects using a hybrid picture fuzzy rough decision-making approach

Abstract

Smart grid systems help increase RWJ projects (RWJ) so that environmentally friendly energy production can be generated. However, efficient technologies should be implemented to ensure the sustainability of smart grid systems. This study aims to evaluate renewable-friendly smart grid technologies regarding distributed energy investment projects by using a hybrid picture fuzzy rough decision-making approach. Firstly, selected criteria are weighted using the multi stepwise weight assessment ratio analysis (M-SWARA) method based on picture fuzzy rough sets (PFRSs). Subsequently, different renewable-friendly smart grid technologies are ranked with the complex proportional assessment (COPRAS) technique by using PFRSs. It is determined that research and development play the most critical role with respect to the renewable-friendly smart grid technologies for distributed energy investment projects. On the other side, cost is another essential factor for this issue. It is also identified that direct current links are the most important renewable-friendly smart grid technology alternative. Priorities should be given to the development of research and development studies on renewable energies to increase the efficiency of smart grid systems. In this context, private sector companies have a very important role. Similarly, incentives provided by governments to RWJ research and development studies should be increased. Within the scope of these studies, new technologies for RWJ types should be emphasized. In this context, new technologies for all RWJ alternatives should be followed comprehensively. Increasing research and development for such investments will also make smart grid systems more successful.