Decision-Making for Risk Management in Sustainable Renewable Energy Facilities: A Case Study in the Dominican Republic

Abstract

Today, Renewable Energy Sources (RES) are a key pillar to achieving sustainable development, which is the main reason why energy projects are being carried out not only in developed countries but also in many emerging countries. Since the technical and financial risk remains a major barrier to financing renewable energy projects, several mechanisms are available to reduce risks on investment into clean energy projects. This paper discusses risk management tools in solar photovoltaic facilities based on the guide to the Project Management (PMBOK Guide). To do this, a combination of different decision-making methodologies will be carried out. These methodologies enable to not only extract the knowledge by experts but also to know the causes and effects that help to make the best decision. In order to do so, techniques to seek information (Delphi and Checklist) as well as diagram techniques such as cause and effect diagrams or Strengths Weaknesses Opportunities and Threats (SWOT) are applied. The categorization and prioritization of risks will be carried out through the Analytic Hierarchy Process (AHP). Finally, a sensitivity analysis will allow for providing consistency to the obtained results. A real case in the Dominican Republic will also be presented as case study.

Development of a Decision-Making Framework for Distributed Energy Systems in a German District

“…In general, the risk assessment can be divided into four phases [45] The first step, risk identification, is to identify and describe the individual external risk factors. For the energy sector, universal risk categories can be defined [3,46]. In the distributed generation sector in particular, both technical and economic individual risk influences must be taken into account.…”

Towards a scalability approach for risk mitigation in electrical systems

“…Authors provide a state-of-the-art of the quantitative and semi-quantitative methods that are used to model risks and uncertainties in sustainable energy system planning and feasibility studies. In the work of Guerrero-Liquet et al (2016), an energy service company which heads the design and installation of the photovoltaic plant was used to demonstrate the applicability of the designed and detailed risk identification model, the gap is that only one structure is taking into account and each of identified risk was defined basing on hypotheses.…”

Green Energy for a Green City—A Multi-Perspective Model Approach

“…Therefore, a natural tool for supporting such decisions are MCDA methods [38]. This stems from the fact that MCDA methods can provide a technical-scientific decision-making support tool that is able to justify choices clearly and consistently, especially in the renewable energy sector [39,40].…”