A variety of alternatives for sustainable power generation have been brought about by the quick development of photovoltaic (PV) technology, necessitating the use of structured evaluation frameworks to facilitate well-informed decision-making. Technical performance, economic viability, environmental impact, technological maturity, and future deployment possibilities are all integrated in this study’s comprehensive multi-criteria analysis of photovoltaic systems ranging from first to fourth generation. A weighted aggregate technique and normalized indicators were used in a multi-criteria decision analysis framework to assess and rank representative solar technologies. The findings show that while fourth-generation photovoltaic technologies, such as tandem and perovskite-based solar cells, show remarkable efficiency potential and promising future development, crystalline silicon technologies continue to be the best choice for current large-scale deployment because of their high maturity and reliability. While third-generation technologies are now constrained by reduced efficiency and technological preparedness, thin-film technologies offer competitive performance under some climatic circumstances. The results emphasize how crucial it is to match photovoltaic technology choices with smart grid specifications, such as grid flexibility, dependability, and interaction with energy storage systems. For academics, engineers, and legislators involved in the design and implementation of solar systems within contemporary smart grid infrastructures, the suggested multi-criteria framework provides insightful information.
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