Commenced in January 2007
Frequency: Monthly
Edition: International
Paper Count: 30077
Selection of Photovoltaic Solar Power Plant Investment Projects - An ANP Approach

Authors: P. Aragonés-Beltrán, F. Chaparro-González, J. P. Pastor Ferrando, M. García-Melón

Abstract:

In this paper the Analytic Network Process (ANP) is applied to the selection of photovoltaic (PV) solar power projects. These projects follow a long management and execution process from plant site selection to plant start-up. As a consequence, there are many risks of time delays and even of project stoppage. In the case study presented in this paper a top manager of an important Spanish company that operates in the power market has to decide on the best PV project (from four alternative projects) to invest based on risk minimization. The manager identified 50 project execution delay and/or stoppage risks. The influences among elements of the network (groups of risks and alternatives) were identified and analyzed using the ANP multicriteria decision analysis method. After analyzing the results the main conclusion is that the network model can manage all the information of the real-world problem and thus it is a decision analysis model recommended by the authors. The strengths and weaknesses ANP as a multicriteria decision analysis tool are also described in the paper.

Keywords: Multicriteria decision analysis, Analytic Network Process, Photovoltaic solar power projects.

Digital Object Identifier (DOI): doi.org/10.5281/zenodo.1074761

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 1715

References:


[1] Saaty TL. The analytic hierarchy process: planning, priority setting, resource allocation. RWS Publications: Pittsburgh; 1996.
[2] Saaty TL. Decision making with independence and feedback: The Analytic Network Process. RWS Publications: Pittsburgh; 2001.
[3] Meade LM, Presley A. R&D project selection using the analytic network process. IEEE Transactions on Engineering Management 2002; 49; 59- 66.
[4] Mohanty RP, Agarwal R, Choudhury AK, Tiwari MK. A fuzzy ANPbased approach to R&D project selection: a case study. International Journal of Production Research 2005; 43(24); 5199-5216.
[5] Cheng EWL, Li H. Analytic network process applied to project selection. Journal of Construction Engineering and Management 2005; 131; 459-466.
[6] Wey WM, Wu KY. Using ANP priorities with goal programming in resource allocation in transportation. Mathematical and Computer Modelling 2007; 46; 985-1000.G. O. Young, "Synthetic structure of industrial plastics (Book style with paper title and editor)," in Plastics, 2nd ed. vol. 3, J. Peters, Ed. New York: McGraw-Hill, 1964, pp. 15-64.
[7] Liang C, Li Q. Enterprise information system project selection with regard to BOCR. International Journal of Project Management, doi:10.1016/j.ijproman.2007.11.001
[8] Gencer C, G├╝rpinar D. Analytic network process in supplier selection: A case study in an electronic firm. Applied Mathematical Modelling 2007; 31; 2475-2486.
[9] Jharkharia S, Shankar R. Selection of logistics service provider: An analytic network process (ANP) approach. Omega-The International Journal of Management Science 2007; 35; 274-289.
[10] Cheng EWL, Li H. Contractor selection using the analytic network process. Construction Management and Economics 2004; 22; 1021-1032
[11] Demirtas EA, Üstün Ö. Analytic network process and multi-period goal programming integration in purchasing decisions. Computers and Industrial Engineering (in press), doi:10.1016/j.cie.2006.12.006
[12] Khan S, Faisal MN. An analytic network process model for municipal solid waste disposal options. Waste Management, doi:10.1016/j.wasman.2007.06.015
[13] Tuzkaya G, Önüt S, Tuzkaya UR, Gülsün B. An analytic network process approach for locating undesirable facilities: An example from Istanbul, Turkey. Journal of Environmental Management, doi:10.1016/j.jenvman.2007.05.004
[14] Ayağ Z, Özdemir RG. An analytic network process-based approach to concept evaluation in a new product development environment. Journal of Engineering Design 2007; 18(3); 209-226.
[15] Erdo─ƒmu┼ƒ ┼×, Aras H, Ko├º E. Evaluation of alternative fuels for residential heating in Turkey using analytic network process (ANP) with group decision-making. Renewable and Sustainable Energy Reviews 2006; 10; 269-279.
[16] Raisinghani, H.S., Meade, L., Schkade, L. Strategic e-business decision analysis using Analytic Network Process. IEEE transactions on Engineering Management 2007, 54 (4); 673-686.
[17] Aragonés-Beltr├ín P., Aznar J., Ferr├¡s-O├▒ate J., Garc├¡a-Mel├│n M. Valuation of urban industrial land: an Analytic Network Process approach. European Journal of Operational Research 2008; 185-1; 322- 339.
[18] Garc├¡a-Mel├│n M., Ferr├¡s-O├▒ate J., Aznar J., Aragonés-Beltr├ín P., Poveda-Bautista R. Farmland appraisal: an Analytic Network Process (ANP) approach. Journal of Global Optimization (in press), DOI 10.1007/s10898-007-9235-0, 2007
[19] Agarwal A, Shankar R, Tiwari MK. Modeling the metrics of lean, agile and leagile supply chain: An ANP-based approach. European Journal of Operational Research 2006; 173; 211-225.
[20] Haktan─▒lar B. Determination of the appropriate energy policy for Turkey. Energy 2005; 30; 1146-1161.
[21] Chung S, Lee AHI, Pearn WL. Analytic network process (ANP) approach for product mix planning in semiconductor fabricator. International Journal of Production Economics 2005; 96; 15-36.
[22] Ravi V, Shankar R, Tiwari MK. Analyzing alternatives in reverse logistics for end-of-life computers: ANP and balanced scorecard approach. Computers & Industrial Engineering 2005; 48; 327-356.
[23] Niemira MP, Saaty TL. An Analytic Network Process model for financial-crisis forecasting. International Journal of Forecasting 2004; 20; 573-587.