Balancing act: The role of risk,cost,benefit,and opportunity in green energy decision making

Abstract

This research examines the strategic development and progress of green energy initiatives on offshore islands under the auspices of the Chinese government. The primary methodologies employed are the Decision Making Trial and Evaluation Laboratory and the analytic network process, in conjunction with the VIKOR method. The analysis focuses on four primary dimensions: benefits, opportunities, costs, risks, and their respective subdimensions. Results indicate the need to consider risk first, followed by cost, benefit, and opportunity. They also underscore the importance of the government focusing on risk management and cost-effectiveness when implementing green energy infrastructure. Subsequently, the potential benefits and opportunities should be evaluated to enhance the effectiveness of green energy systems in Taiwan's offshore islands and ensure optimal operational efficiency.