Over the last three decades, many researchers and decision makers have investigated separately the issues of economic growth, profitability, and quality of life when thinking about business electricity sustainability. The correlations between these paradigms still remain at the stage of discussions, debates, and forecasts as a reaction to the occurred conflicts and disasters. There is a lack of real encryption that demonstrates their interactions. It is useful to materialize the expectations of stakeholders by mathematical modeling and providing answers to specific wants of each society according to its financial resources, its concrete societal objectives, especially to which kind of energy legacy it wants to contribute to future generations. It is imperative that experts assist decision makers, through transparent methods that seek consensus. To this end, the analytic hierarchy process (AHP) method was proposed as it has proven its efficiency in many areas of human activities. The outcomes were analyzed using this method, and the findings were compared and recommendations were made using other multi‐criteria decision‐making (MCDM) methods. As for energy sustainability, it is imperative to move toward renewable energy resources while trying to hold together the benefits, opportunities, costs, and risks (BOCR). We have retained that status quo is not sustainable.
Part of the book: Applications and Theory of Analytic Hierarchy Process
This chapter deals with power systems reliability including technical, economical, and decisional aspects. Knowing that almost 90% of failures occur in the distribution systems, great interest was dedicated to this part of the system, and the first work was oriented to reliability indices defined as objectives to attempt and as performance measures in the electricity market. Some works deal with the managers’ behavior, and the customers reactions are modeled using economic criteria in uncertain future and inspired from game theory. When studying components, degradation models were introduced and combined with the effects of socks to study the reliability changing during system operation. In some works, the correlation between maintenance policies and reliability aspects was highlighted. In a recent work, considering the importance of new technologies integration and renewable energy insertion to power systems, it was revealed that reliability aspects and energy sustainability are two fundamental issues of progress in a given society.
Part of the book: System Reliability