Asian Research Journal of Mathematics

Renewable energy is in abundance around us. Exploitation of Green Energy is a universal concern 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. Traditional cooperative game theory either fully engages in coalition formation or refrain from it entirely and payoffs are decided by deterministic criteria. Deterministic models are unable to adequately capture the intricacies of the real world due to factors like shifting regulations, changing climates and incomplete stake holder commitments. This gap is filled by fuzzy cooperative modelling which uses fuzzy membership functions to introduce degrees of participation, making it possible to depict incomplete coalition and uncertain payoffs more realistically.  The fuzzy approach improves the fairness and stability of decisions by ensuring fairness and stability in payoff distribution and fuzzy core. 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.