A Decision-Making Problem for Investment on Renewable Energy Sources in Turkey

Authors : Hacı Ahmet Karadaş, Serkan Atmaca, Yener Ünal

Pages : 57-72

View : 21 | Download : 7

Publication Date : 2020-12-25

Article Type : Research

Abstract :Priority of the countries is to achieve economic development and increase the wealth of their nations. In order to achieve this goal, countries need a crucial element which is energy. After industrial revolution, fossil fuels started to be used as the main energy source but using fossil fuels decreased the reserves and damaged the environment. Because of these handicaps of fossil fuels, countries tried to find alternative energy sources. Most popular of these alternative energy sources are the renewable energy sources which are friendly to the environment and limitless. Since there are several renewable energy sources, an important question arrived; "Which renewable energy source is better to invest?”. In this study, in order to answer this question in Turkish case, we checked the effects of each renewable energy sources to economic growth. With this result and the advantages and disadvantages of each renewable energy sources, we conduct a decision-making problem.
Keywords : Renewable Energy, Cointegration Tests, AHP, Decision Making, Mathematical Modelling