A Multi-Criteria Framework to Evaluate the Sustainability of Renewable Energy: A 2-Tuple Linguistic Grey Relation Model from the Perspective of the Prospect Theory

The unique resources and environmental advantages of renewable energy make it an essential component strategies a meaningful way to achieve “carbon neutrality”. However, due limitations relating ecological factors geographical locations, power generation faces many problems, including instability, resulting in unsustainable development. Few studies have been conducted on the sustainability energy. Therefore, multi-criteria decision-making (MCDM) framework for evaluating is put forward. Based 2-tuple linguistic grey relation model prospect theory, MCDM can comprehensively analyze that may influence terms resources, environment, society, technology, economy. combination theory improve objectivity decision making. Taking China as research object, this study finds profit–loss ratios four alternatives considered are {0.969,0.432,0.395,0.369} solar photovoltaic power, wind hydropower, biomass respectively, ranked from best worst. sensitivity analysis, change its parameters based relevant psychological characteristics then establish suitable system proposed provide investors with references help governmental agencies formulate policies.