Final answer:
The preferred method of ranking economically feasible projects is through a structured evaluation process that takes into consideration various criteria and constraints. This involves evaluating potential designs based on their ability to meet requirements, constraints, and criteria, and selecting the best design according to these factors. Cost estimation and mathematical models can help compare the costs of different options.
Step-by-step explanation:
The preferred method of ranking economically feasible projects is through a structured evaluation process that takes into consideration various criteria and constraints. This process involves evaluating potential designs based on their ability to meet requirements, constraints, and criteria, and selecting the best design according to these factors. The selection is typically made using a metric such as EROEI (Energy Return on Energy Invested).
In the context of energy sources, the Alternative Energy Matrix and individual tally can be used to rank alternative solutions based on factors like pollution, renewable energy usage, convenience, comfort, and cost.
Cost estimation and mathematical models can also be employed to compare the costs of different options and help in making informed decisions.