A VIKORs Method-Based Multi-Criteria Decision Analysis for Energy Storage System Selection for Wave Energy

Marine renewable energy (MRE) is a source of clean and reliable energy for countries with coastal areas. Wave energy, a type of MRE, is highly dependent on meteorological conditions, and the power produced from Wave energy converters (WEC) is highly fluctuating. Integrating this variable and fluctuating renewable energy resources into power grids complicates the tasks such as power stabilization and power balancing. To smoothen the power fluctuations, improve the system reliability, and perform energy shifting, Energy Storage Systems (ESS) have been widely used. Different energy storage technologies have been developed, and selecting an appropriate ESS is an important task. This paper presents a multi-criteria decision analysis for energy storage system selection for wave energy using the extended VIKORs (VlseKriterijumska Optimizacija I Kompromisno Resenje) method. This method could account for various technical, economic, and environmental factors to rank the alternatives based on the criteria weights. The weights used in MCDM may reflect the considerations and preferences of decision-makers for different factors. Using this method, the results of a specific case in this paper show that lithium-ion batteries rank best when compared with other alternatives considered in this analysis.