Description:
The future of energy security has become a prominent concern for emerging economies due to the inevitable depletion of fossil fuels and the ongoing disruptions in their supply. The crippling effect of complete dependence on expensive fossil fuel imports is magnified by the ineffective policy response to the enduring energy crisis, impeding progress across various sectors and thwarting efforts to meet the demands of population growth and industrialization amid acute electricity shortages. Amidst the economic growth of a prominent emerging economy, Bangladesh, wind energy emerges as a transformative solution to effectively tackle the mounting challenges of electricity demand, environmental pollution, greenhouse gas emissions, and the depleting reserves of fossil fuels. Therefore, this study utilizes an integrated multi-criteria decision-making (MCDM) approach combining the inter-valued type 2 intuitionistic fuzzy (IVT2IF) theory with the decision-making trial and evaluation laboratory (DEMATEL) method aiming to identify, prioritize, and investigate the relationships among the factors that impact the sustainable adoption and growth of wind energy in an emerging economy like Bangladesh. Initially, the factors were derived from reviewing existing literature. After subsequent expert validation, sixteen factors were selected for analysis using the IVT2IF DEMATEL method. The findings of the study indicate that "Fossil fuel supply disruption," "Stable financial investment and resource mobilization," and "Geographical region" are the most significant factors influencing the adoption of wind energy for national grid support with prominence value 4.415, 4.406 and 4.339 respectively. Moreover, "Fossil fuel supply disruption" is also the most significant causal factor with a causal weight of 1.274, which is followed by "Stable financial investment and resource mobilization" and "Geographical region" with a causal weight of 1.029 and 0.794. The study's findings have the potential to aid decision-makers and policymakers in formulating long-term strategies and investment decisions to improve the sustainability of the national grid and achieve carbon neutrality.