Simulation-Based Optimization Integrated Multiple Criteria Decision-Making Framework for Wave Energy Site Selection: A Case Study of Australia

This study aims to develop a novel and robust simulation-based integration framework to identify optimal locations for wave energy projects in Australia. The process of multi-criteria evaluating and selecting locations based on feasible conditions, published numerical data, and linguistic judgments of experts. With this aim in mind, this paper proposes the first combination of Data Envelopment Analysis (DEA) approach, Fuzzy Best-Worst Method (Fuzzy BWM), and Simulation-based Fuzzy Multi-Criteria Interactive Decision-Making method (Fuzzy TODIM). Firstly, the DEA model helps to filter out potentially and highly effective locations from feasible locations. Afterward, Fuzzy BWM is a worthy and effective alternative to Analytic Hierarchy Process (AHP) in weighting criteria. Finally, the simulation-based Fuzzy TODIM method evaluates potential locations, taking into account both the consideration of the criteria interaction and the decision maker’s aversion to loss. Based on the simulation results, the study finds the thresholds of the loss attenuation coefficient that change the ranking of potential locations. Last but not least, to validate the ranking result, the comparison shows that the proposed method’s results have a high degree of similarity with actual wave energy projects in Australia. Accordingly, governments, investors, and institutions can sustainably optimize the efficiency of wave energy projects by applying the proposed model. Moreover, the integrated framework can provide robust solutions to other multiple criteria decision-making problems.