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Academic Journal of Business & Management, 2020, 2(2); doi: 10.25236/AJBM.2020.020202.

Investment decision-making model for distributed Photovoltaic based on the multi-level coordinated evaluation theory


Xiaoxu Fu*, Caixia Tan, Liling Huang, Zhongfu Tan

Corresponding Author:
Xiaoxu Fu

School of Economics and Management, North China Electric Power University, Beijing 102206, China;

*Correspondence: [email protected]


With the development of photovoltaic (PV) industry, installing small-scale PV systems which are integrated into the buildings becomes popular. Therefore, it is important to make optimal investment decisions for investors and consumers. This paper proposes an improved group decision-making method which integrates the cumulative prospect theory and Choquet integral for the investment options of small-scale PV systems. From the perspective of sustainability, the alternatives are evaluated by four criteria, including economic benefits, solar energy condition, carbon emissions and social benefits. Since the performances of criteria are given by decision makers as linguistic variables, the proposed method measures the criteria values by intuitionistic trapezoidal fuzzy numbers. Then the alternatives are evaluated and ranked to determine the optimal option. Finally, the proposed method is implemented in a case study to illustrate its feasibility and effectiveness.


investment options; small-scale photovoltaic systems; cumulative pro-spect theory; Choquet integral; intuitionistic trapezoidal fuzzy numbers

Cite This Paper

Xiaoxu Fu, Caixia Tan, Liling Huang, Zhongfu Tan. Investment decision-making model for distributed Photovoltaic based on the multi-level coordinated evaluation theory. Academic Journal of Business & Management (2020) Vol. 2, Issue 2: 6-13. https://doi.org/10.25236/AJBM.2020.020202.


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