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Optimal Cleaning Power Generation Investment Strategy in a Carbon Tax and CO2 Emission Trading Framework

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Abstract:

This paper studies a two-staged cleaning energy investment problem under uncertainty. It analyzes how a power generation firm may proceed with staged generation capacity investment and deployment of the carbon capture device through real options approach. The results indicate that, because of the variation fluctuation of electricity price, the investor tends to delay investing when the electricity price is lower, whereas the higher price-price ratio of CO2 and electricity is helpful for him to deploy ahead the carbon capture device, the main reason is that the yields from the sale of CO2 emission allowances can compensate him foe the higher operation cost of it.

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Info:

Periodical:

Advanced Materials Research (Volumes 347-353)

Pages:

2805-2810

DOI:

https://doi.org/10.4028/www.scientific.net/AMR.347-353.2805

Citation:

Cite this paper

Online since:

October 2011

Authors:

Chao Huang, Yan Li, Xiang Hong Lai, Xiao Qin Li

Keywords:

Cleaning Energy, Investment Making Decision, Real Options, Uncertainty

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