Fuzzy Cooperative Game Model for Renewable Energy Advancement: A Case Study of Offshore Wind Farms

Renewable Energy or Green Energy are the energy spawned from naturalistic resources such as sunshine, water, waste and tornado. Renewable energy is in abundance around us. Exploitation of Green Energy is a universal concernment due to its reign to alleviate the environment and diminish the dependence on conservative energy. Collaborated approaches, where various stakeholders involve, can help surmount these hedges and escalate the acceptance of renewable energy. In such situations, fuzzy cooperative game theory can be used to model and analyse the sophisticated environment. Consider a scenario where several countries are considering investing in renewable energy projects. The potential benefits and costs of these projects are uncertain due to factors such as technological advancements, market fluctuations, and policy changes. Kerala, a state in southern India, has significant potential for renewable energy production due to its abundant solar and wind resources. However, the state government is struggling to integrate renewable energy into the existing power grid and ensure equitable distribution of benefits among stakeholders. Using a fuzzy cooperative game model, we can analyse the formation of coalitions among stakeholders to jointly invest in renewable energy projects and share the benefits and costs.