期刊
RENEWABLE & SUSTAINABLE ENERGY REVIEWS
卷 40, 期 -, 页码 944-955出版社
PERGAMON-ELSEVIER SCIENCE LTD
DOI: 10.1016/j.rser.2014.08.021
关键词
Real option; Unit decision value; Save-path rate; Solar PV power generation
资金
- National Natural Science Foundation of China [71203151, 71273130, 71373122]
- Ph.D. Programs Foundation of Ministry of Education of the People's Republic of China [20123218110028]
- NUAA Research Funding [NE2013104]
- Major Project of University's Key Research Base for Philosophy and Social Science in Jiangsu Province [2010JDXM012]
This study proposes a policy evaluation model from the perspective of government and investors. The proposed model, which integrates American option method and two-factor learning curve method, can be used to evaluate the unit decision value and save-path rate for renewable energy development and examine the existence of balance point of interest. Several uncertain factors including non-renewable energy cost, carbon price, renewable energy cost, and price subsidy are all considered in this model. The model has been applied to evaluate the solar photovoltaic (PV) power generation in China. Our empirical results show that real option analysis (ROA) is more effective than net present value analysis (NPV) when handling uncertainty. Under current level of subsidy, the government would suffer loss and the investors could benefit so that it is difficult to achieve the balance of interest during the planning period. With the reduction of subsidy rate, they can achieve the balance of interest. (C) 2014 Elsevier Ltd. All rights reserved.
作者
我是这篇论文的作者
点击您的名字以认领此论文并将其添加到您的个人资料中。
推荐
暂无数据