Journal Articles - Business and Management - 2021

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Browsing Journal Articles - Business and Management - 2021 by Subject ""renewable energy"
  • Publication
    A Multicriteria Decision-Making Model for the Selection of Suitable Renewable Energy Sources
    ( 2021)
    Chia-Nan Wang
    ;
    Jui-Chung Kao
    ;
    Yen-Hui Wang
    ;
    Van Thanh Nguyen
    ;
    Viet Tinh Nguyen
    ;
    Syed Tam Husain
    With the expansion of its industrial and manufacturing sectors, with the goal of positioning Vietnam as the world’s new production hub, Vietnam is forecast to face a surge in energy demand. Today, the main source of energy of Vietnam is fossil fuels, which are not environmentally friendly and are rapidly depleting. The speed of extraction and consumption of fossil fuels is too fast, causing them to become increasingly scarce and gradually depleted. Renewable energy options, such as solar, wind, hydro electrical, and biomass, can be considered as sustainable alternatives to fossil fuels. However, to ensure the effectiveness of renewable energy development initiatives, technological, economic, and environmental must be taken in consideration when choosing a suitable renewable energy resource. In this research, the authors present a multi-criteria decision-making model (MCDM) implementing the grey analytic hierarchy process (G-AHP) method and the weighted aggregates sum product assessment (WASPAS) method for the selection of optimal renewable energy sources for the energy sector of Vietnam. The results of the proposed model have determined that solar energy is the optimal source of renewable energy with a performance score of 0.8822, followed by wind (0.8766), biomass (0.8488), and solid waste energy (0.8135) based on the calculations of the aforementioned methods.
  • Publication
    NEXUS BETWEEN ENERGY EFFICIENCY, ENERGY SECURITY AND ECONOMIC DEVELOPMENT: EMPIRICAL EVIDENCE FROM BRICS ECONOMIES
    ( 2021)
    CHING-CHI HSU
    ;
    FENGSHENG CHIEN
    ;
    QUANG-THANH NGO
    ;
    TIEN-DUNG NGUYEN
    ;
    HIEU MINH VU
    ;
    CRISPTOPHER HUGO
    The objective of this study is to measure the energy efficiency and energy security by using Data Envelopment Analysis (DEA) and an econometric estimation such as ordinary least square method (OLS) to measure the relationship between energy efficiency, energy security and economic development with macro-economic indicators such as energy consumption, economic growth, and environmental degradation factors by using the data from 1976 to 2016 while the energy efficiency has been measured during the period of 2010 to 2018. Results show that Brazil and Russia are countries with less energy for these consecutive years. This work contributes to the existing literature on eco-friendly and sustainable policy design in BRICS countries based on multiple indicators. The analysis also indicates that the quality of a country’s laws and regulations are essential for expanding research on renewable energy because the right policy tools serve as the basis for the transition. It is also found that Brazil, Russia, and South Africa have the best score in terms of energy and economic development while China and India are among the lowest performing countries in clean energy. Energy efficiency results show that china has the highest score of 1 while India and South Africa energy score is about 0.623 and 0.64 respectively. This serves as a panacea to study the country’s energy insecurity and bridge the gap in the literature. As the renewable energy industry is considered a high-risk area, it is necessary to develop essential aversion tools for financial policy risks to attract private capital.