Spherical Fuzzy Cost/Benefit Analysis of Wind Energy Investments

Sezi Cevik Onar*, Basar Oztaysi, Cengiz Kahraman

*Corresponding author for this work

Research output: Chapter in Book/Report/Conference proceedingConference contributionpeer-review

8 Citations (Scopus)


Energy investments are highly risky due to the uncertainties of the energy market. Over the past two decades, the usage of wind energy has been increased dramatically. Appropriate wind energy investment valuations are vital for both the public and private sectors. The fluctuations in the energy prices, the uncertainties in the production levels and the changes in the investment costs harden the wind energy investment decision. Using the traditional investment valuations overlooks the necessary managerial flexibility of investments, uncertainty and risk concepts. The spherical fuzzy sets enable us dealing with this uncertain structure with the hesitancy. In this study, a new Spherical fuzzy cost benefit analysis is developed and modified to the wind energy investment evaluation. In order to show the applicability of the proposed method a wind energy investment is analyzed with it. This new approach by taking into account the hesitancy may enable investments to be evaluated with more flexibility and accuracy.

Original languageEnglish
Title of host publicationIntelligent and Fuzzy Techniques
Subtitle of host publicationSmart and Innovative Solutions - Proceedings of the INFUS 2020 Conference
EditorsCengiz Kahraman, Sezi Cevik Onar, Basar Oztaysi, Irem Ucal Sari, Selcuk Cebi, A. Cagri Tolga
Number of pages8
ISBN (Print)9783030511555
Publication statusPublished - 2021
EventInternational Conference on Intelligent and Fuzzy Systems, INFUS 2020 - Istanbul, Turkey
Duration: 21 Jul 202023 Jul 2020

Publication series

NameAdvances in Intelligent Systems and Computing
Volume1197 AISC
ISSN (Print)2194-5357
ISSN (Electronic)2194-5365


ConferenceInternational Conference on Intelligent and Fuzzy Systems, INFUS 2020

Bibliographical note

Publisher Copyright:
© 2021, The Editor(s) (if applicable) and The Author(s), under exclusive license to Springer Nature Switzerland AG.


  • Cost benefit analysis
  • Engineering economics
  • Spherical fuzzy sets
  • Wind energy investment analysis


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