| 来源类型 | Conference or Workshop Item (UNSPECIFIED) |
| 规范类型 | 其他 |
| Investment in wind power & pumped storage in a Real Options Model - A policy analysis. | |
| Reuter WH; Fuss S; Szolgayova J; Obersteiner M | |
| 发表日期 | 2011 |
| 出处 | World Renewable Energy Congress 2011 - Sweden, 8-13 May 2011 |
| 出版年 | 2011 |
| 语种 | 英语 |
| 摘要 | Promoting renewable energy has been a key ingredient in energy policy seeking to de-carbonize the energy mix and will continue to do so in the future given the European Union's high ambitions to further curb carbon emissions. A wide range of instruments has been suggested and implemented in various countries of the EU. A prominent policy promoting investment in renewable technologies is the use of feed-in tariffs, which has worked well at large scale in e.g. Germany, but which has only been implemented in a very limited way in countries such as the UK. Being subject to environmental uncertainties, however, renewables cannot be seen in isolation: while renewables-based technologies such as wind and solar energy, for example, suffer from uncertain loads depending on environmental conditions, hydropower allows for the storage of water for release at peak prices, which can be treated as a premium (partially) offsetting higher up-front investment costs. In addition, electricity prices will respond to changes in electric capacity in the market, which is often neglected in standard investment models of the electricity sector. This paper contributes to the existing literature of real options approaches to electricity investment by investigating the specific characteristics of renewables and their associated uncertainties in a stylized setting taking explicitly into account market effects of investment decisions. The prices of the model are determined endogenously by the supply of electricity in the market and by exogenous electricity price uncertainty. The inclusion of market effects allows us to capture the full impact of public incentives for companies to invest into particular technologies. |
| 主题 | Ecosystems Services and Management (ESM) ; Forestry (FOR) |
| 关键词 | Real Options Energy policy Renewables Market effects |
| URL | http://pure.iiasa.ac.at/id/eprint/9797/ |
| 来源智库 | International Institute for Applied Systems Analysis (Austria) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/132371 |
| 推荐引用方式 GB/T 7714 | Reuter WH,Fuss S,Szolgayova J,et al. Investment in wind power & pumped storage in a Real Options Model - A policy analysis.. 2011. |
| 条目包含的文件 | 条目无相关文件。 | |||||
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