When energy is emitted or transmitted in the form of waves or rays that travel through the space or material medium then this energy is known as radiation.
For example, Sum emits radiation in the form of heat, light and particles.
Thus, we can conclude that out of the given options, radiation is the transfer of energy in the form of rays or waves.
Energy can neither be created nor destroyed, but it does change its form. And not all forms of energy are usable and it gets dissipated as heat energy and sound energy. The energy that is wasted cannot be recovered.