Multi-Criteria Decision-Making for Ranking Renewable Energy Sources: A Case Study from the Republic of Serbia

Energy remains a cornerstone of national economic development and societal advancement.However, the current trajectory of global energy production-dominated by fossil fuels and driven by escalating demand-is environmentally unsustainable.Electricity, as a versatile and high-grade form of energy, offers the advantage of being generable from both conventional and renewable sources.Nevertheless, fossil fuel-based electricity generation continues to contribute significantly to local and global environmental degradation.In response to the dual imperatives of meeting rising energy demand and reducing greenhouse gas emissions, the identification and prioritisation of sustainable electricity generation technologies have become imperative.Renewable energy sources (RES)-such as solar, wind, hydro, and biogas-offer viable alternatives, yet their relative merits must be evaluated through a rigorous and systematic approach.In this study, a multi-criteria decision-making (MCDM) framework has been employed to assess and rank RES in the Republic of Serbia.Key evaluation criteria have included construction cost, payback period, ecological impact, annual generation capacity, and potential for integration with alternative energy modes.The assessment has been conducted using the FANMA method (a novel hybrid technique named after its developers) and the Weighted Aggregated Sum Product Assessment (WASPAS) method, both of which are established tools for handling complex decision-making scenarios.The findings have provided a data-driven basis for prioritising renewable energy technologies in national energy strategies.The insights derived are expected to inform policy decisions in Serbia and offer a transferable framework for energy planning in other developing economies aiming to transition towards more sustainable power generation systems.