Multi Criteria Analysis in the Renewable Energy Industry by José Ramón San Cristóbal Mateo
Author:José Ramón San Cristóbal Mateo
Language: eng
Format: epub
Publisher: Springer London, London
The Compromise Ranking Method, also known as the VIKOR method (VlseKriterijumska Optimizacija I Kompromisno Resenje in serbian, means Multicriteria Optimization and Compromise Solution), is an effective tool in multi-criteria decision making. This method introduces the multi-criteria ranking index based on the particular measure of ‘closeness’ to the ‘ideal’ solution, The compromise solution Fc is a feasible solution that is the ‘closest’ to the ideal solution, and compromise means an agreement established by mutual concessions. In this chapter, the method is applied to the selection among 13 different renewable energy options for electric generation.
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