A Multi-Agent Decision-Making Model for the Ranking of Energy Storage Technologies

Abstract

Energy storage can help in solving the problem of intermittency associated with renewable energy as well as provide a reliable and stable energy supply in the transition to a low carbon society. Energy storage technologies (EST) that are available in the market and in the process of development have their specific strengths and weaknesses. The selection of an EST for a specific application requires the evaluation of its various characteristics. The development of sustainable energy storage necessitates a multi-criteria approach and robust decision support systems. The factors to consider in selecting the best EST from multiple alternatives are energy density, specific energy, cycle efficiency, power density, specific power, technology readiness level (TRL), power/energy capital cost, and lifespan. This study proposes a fuzzy multicriteria decision-making method in a multi-agent environment. A consensus measure is incorporated in the decision model where the evaluation of criteria or alternatives is vague or imprecise. A case study is presented to demonstrate the use of such ranking methodologies which could guide decision-makers in selecting the best EST for stationary power application.