Page 22 - Decision Making Applications in Modern Power Systems

Multicriteria decision-making methodologies Chapter | 1 3

Operational
research

Hybrid-
Multiobjective decision-making Multiattribute decision-making methods of MODM and MADM
(MODM) (MADM)
used in combined way
FIGURE 1.1 A general classification of operational research [20 23].

as well as alternatives. The hybrid extracts the best of the both methods to
draw necessary conclusions for a decision maker. Energy management and
policy making considering sustainability has become one of the topics of
global benefits, and researchers and agencies (public and private) are inclin-
ing their interests to use MODM to get the best decision. Energy manage-
ment and policy making involves multiple technical, economic, social, and
environmental issues and objectives to attain. For example, in a process to
select a site for a power plant, a decision maker needs to consider multiple
objectives as well as alternatives. The objectives can be least capital invest-
ment, topographically suitable for generation, ease to access by all stake-
holders, socially acceptable, environmentally safe for deploying the power
plants and its supporting services, etc. Each of the objectives is arranged into
various categories and indicators. The techniques in MCDM allow us to con-
sider all the hues and cries to be taken care by the decision makers.
Apart from energy management and policy making, the MCDM is also
applicable in formulating suitable strategies for management and control on
the generation and distribution of electrical power as well. The decision sci-
ence has grown deep roots in the power sector with microgrids and distributed
energy resources utilization gaining popularity. Numerous studies are endeav-
ored using MCDM techniques for energy and resource saving objectives.
Apart from the objectives related to technical, social, environmental, and eco-
nomic, sustainability analysis has also become a part of MCDM [20 23].
Renewable energy is playing a major role in the power and energy man-
agement. Its numerous benefits include local availability, environment
friendliness, and it can be widely distributed depending on the topography
and demography of the place. The projects based on renewable energy are
running all round the globe. MCDM has been applied in various fields such
as planning, integration, and management of renewable energy. MCDM is
used to define the priority of projects to be funded by the agencies, deciding
location, effectiveness, and feasibility analysis of the projects.

1.2 Multicriteria decision-making in energy planning

Two types of methods are discussed in this chapter: general and hybrid. The
following general methods are used in the energy planning: