Green electricity investment timing in practice: Real options or net present value?
作者: Stein-Erik FletenKristin LinnerudPeter MolnárMaria Tandberg Nygaard
作者单位: 1Norwegian University of Science and Technology, NO-7491 Trondheim, Norway
2Center for International Climate and Environmental Research - Oslo, NO-7491 Oslo, Norway
刊名: Energy, 2016, Vol.116 , pp.498-506
来源数据库: Elsevier Journal
DOI: 10.1016/
关键词: Renewable energyInvestmentsReal optionsSubsidies
英文摘要: Abstract(#br)Using data from 214 hydropower projects in Norway we study whether investors in renewable energy projects exert discretion about the timing of investment decisions. We know from interviews with these investors that they do not use the real options model; however, we would like to learn whether they act consistently with this approach. These investments were expected to be supported financially through renewable policy schemes, but were not during the time period we consider. We calculate subsidies implied by investors' decisions using both real options and net present value models and compare these expected subsidies with subsidies observed in a very closely related market (Sweden). Our analysis indicates that our assumed real options model implies expected subsidies that...
全文获取路径: Elsevier  (合作)
影响因子:3.651 (2012)

  • electricity 电气
  • options 保留购买权
  • investment 投资
  • practice 实践
  • timing 计时
  • value 
  • present 出席的