Abstract
The development and survival of contemporary economies are fundamentally dependent on energy. Practically every aspect of human well-being depends on it, encompassing "sustainability, employment, connectivity to necessities, and the economy, health care, employment, and education". Energy is regarded as being essential to the economic system and a key factor in a nation's prosperity. Developing markets must diversify their energy sources to ensure energy independence, supply options, employment generation, and sustainable development. A comprehensive energy development strategy is essential to meet supply and demand since population growth and modernization are two major drivers of rising energy needs.“The multicriteria decision making (MCDM) method" is used to decide amongst many renewable power sources when numerous criteria are present. Using the COPRAS rating system, the report examines five alternative energy sources "PV, solar thermal, hydro, wind, and biomass"—against five components. "Solar PV ranks fifth, solar thermal is third, hydro is first, the wind is fourth, and biomass is second" in the COPRAS ranking of alternatives. Hydro recorded the largest significance compared to biomass, trailed by “solar thermal, wind, and solar PV”, as per the COPRAS ranking. "Hydro > Biomass > Solar Thermal > Wind > Solar PV" sums up the order. The most potential renewable source for economic development, according to this, is hydro.