I nvestment timing and capacity choice under rate-of-return regulation for renewable energy support
作者: Mariia KozlovaStein-Erik FletenVerena Hagspiel
作者单位: 1LUT University, School of Business and Management, Lappeenranta, Finland
2Norwegian University of Science and Technology, Department of Industrial Economics and Technology Management, Trondheim, Norway
刊名: Energy, 2019, Vol.174 , pp.591-601
来源数据库: Elsevier Journal
DOI: 10.1016/j.energy.2019.02.175
关键词: Capacity mechanismRenewable energy policyReal optionsDynamic programming
英文摘要: Abstract(#br)This study analyzes a renewable energy (RE) support scheme recently introduced in Russia and compares it to the most frequently applied policy measures, feed-in tariff (FiT) and feed-in premium (FiP) schemes. In particular, we present an analytical formulation of the problem set-up and study optimal investment timing and capacity choice employing a real options approach. In addition, we conduct detailed sensitivity analyses to highlight how different policies shape investment behavior. The contributions of this paper include modeling the Russian RE support mechanism in a dynamic programming framework that allows us to show that such a RE support design offers a strong case for transferring market risks away from the investor and has potential for a unique combination of...
全文获取路径: Elsevier  (合作)
影响因子:3.651 (2012)

  • renewable 可更新的
  • return 归路
  • choice 选择
  • regulation 
  • support 支柱
  • timing 计时
  • capacity 电容量
  • energy 能量
  • under 在下