Abstract
The quest for sustainable energy solutions has intensified interest in marine renewables, particularly wave energy. This study addresses the crucial need for an objective assessment of Wave Energy Converter (WEC) technologies, which are instrumental in harnessing ocean waves for electricity generation. To benchmark WEC technologies, we employed an integrated approach combining the MEthod based on the Removal Effects of Criteria (MEREC) and the Spherical Fuzzy Combine Compromise Solution (SF-CoCoSo). MEREC provided a systematic way to determine the importance of various benchmarking criteria, while SF-CoCoSo facilitated the synthesis of complex decision-making data into a coherent evaluation score for each technology. The results of the study offer a definitive ranking of WEC technologies, with findings emphasizing the importance of grid connectivity and adaptability to various wave conditions as pivotal to the technologies' success. While the study makes significant strides in the evaluation of WECs, it also recognizes limitations, including the potential for evolving market dynamics to influence criteria weightings and the assumption that the MCDM methods capture all decision-making complexities. Future work should expand the evaluative criteria and explore additional MCDM methods to validate and refine the benchmarking process further.