Geographic information system-based multi-criteria decision-making analysis for investment assessment of wind-photovoltaic-shared energy storage power stations: a case study of Shanxi Province

As the center of the development of power industry, wind-photovoltaic (PV)-shared energy storage project is the key tool for achieving energy transformation. This research seeks to construct a feasible model for investment appraisal of wind-PV-shared energy storage power stations by combining geographic information system (GIS) and multi-criteria decision-making (MCDM) method. Firstly, a comprehensive criteria system is established from the perspectives of orography, economy, resources, climate, and society, and the evaluation data is described using probabilistic linguistic term sets (PLTSs). Then, to avoid the weight deviation produced by the single weighting approach, a comprehensive weighting model including the best–worst method (BWM) and entropy weight method is provided to calculate the weights of criteria. Next, expert weights are calculated based on trust analysis. Finally, alternatives are ranked by the improved gained and lost dominance score (GLDS) method. To verify the validity of the model, an empirical investigation is carried out in Shanxi Province. The results show that the economy is the primary factor influencing the investment decision. Among all the projects approved by the government, alternative F4 located in Yanzhuang Town, Yuanping City is the best investment object. Furthermore, to illustrate the stability of the result, triple sensitivity analysis and comparative analysis are conducted in Shanxi Province. This study expands the application scope of GIS and MCDM method by first providing support for government and investors to identify optimal investment targets.