Assessing Renewable Energy Impact in Nordic-Baltic Region: Sensitivity Analysis and MCDM Approach

The article presents an MCDM model based on the Improved Entropy and PIV methods to analyze the development of renewable energy in Nordic-Baltic countries. The analysis was conducted on eight alternatives and ten criteria, and sensitivity analysis was applied to assess the model's suitability. The impact of 34 different variations in criterion weights on the results was examined. The findings demonstrate that Norway emerges as the most appropriate alternative, and the smallest weight change required to alter the current ranking is 18.93%.