Optimal technology choice and investment timing: A stochastic model of industrial cogeneration vs. heat-only production
Download full text from publisher
As the access to this document is restricted, you may want to look for a different version below or search for a different version of it.
Other versions of this item:
- Reinhard Madlener & Marcel Wickart, 2004. "Optimal Technology Choice and Investment Timing: A Stochastic Model of Industrial Cogeneration vs. Heat-Only Production," CEPE Working paper series 04-37, CEPE Center for Energy Policy and Economics, ETH Zurich.
References listed on IDEAS
- Keppo, Jussi & Lu, Hao, 2003. "Real options and a large producer: the case of electricity markets," Energy Economics, Elsevier, vol. 25(5), pages 459-472, September.
- Frayer, Julia & Uludere, Nazli Z., 2001. "What Is It Worth? Application of Real Options Theory to the Valuation of Generation Assets," The Electricity Journal, Elsevier, vol. 14(8), pages 40-51, October.
- Chi-Keung Woo, 1988. "Inefficiency of Avoided Cost Pricing of Cogenerated Power," The Energy Journal, International Association for Energy Economics, vol. 0(Number 1), pages 103-113.
- Bonilla, David & Akisawa, Atsushi & Kashiwagi, Takao, 2003. "Modelling the adoption of industrial cogeneration in Japan using manufacturing plant survey data," Energy Policy, Elsevier, vol. 31(9), pages 895-910, July.
- Paul L. Joskow & Donald R. Jones, 1983. "The Simple Economics of Industrial Cogeneration," The Energy Journal, International Association for Energy Economics, vol. 0(Number 1), pages 1-22.
- Robert C. Merton, 2005. "Theory of rational option pricing," World Scientific Book Chapters,in: Theory Of Valuation, chapter 8, pages 229-288 World Scientific Publishing Co. Pte. Ltd..
- Kenneth Rose & John F. McDonald, 1991. "Economics of Electricity Self-Generation by Industrial Firms," The Energy Journal, International Association for Energy Economics, vol. 0(Number 2), pages 47-66.
- Fox-Penner, Peter S., 1990. "Regulating independent power producers : Lessons of the PURPA approach," Resources and Energy, Elsevier, vol. 12(1), pages 117-141, April.
- Nasakkala, Erkka & Fleten, Stein-Erik, 2005.
"Flexibility and technology choice in gas fired power plant investments,"
Review of Financial Economics,
Elsevier, vol. 14(3-4), pages 371-393.
- Erkka Näsäkkälä & Stein- Erik Fleten, 2004. "Flexibility and Technology Choice in Gas Fired Power Plant Investments," Others 0405004, University Library of Munich, Germany, revised 06 Apr 2006.
- Kwon, Oh Sang & Yun, Won-Cheol, 2003. "Measuring economies of scope for cogeneration systems in Korea: a nonparametric approach," Energy Economics, Elsevier, vol. 25(4), pages 331-338, July.
- Sodal, Sigbjorn, 1998. "A simplified exposition of smooth pasting," Economics Letters, Elsevier, vol. 58(2), pages 217-223, February.
- Dobbs, Ian M., 1982. "Combined heat and power economics," Energy Economics, Elsevier, vol. 4(4), pages 276-285, October.
- Anandalingam, G., 1985. "Government policy and industrial investment in cogeneration in the USA," Energy Economics, Elsevier, vol. 7(2), pages 117-126, April.
- McDonald, Robert L & Siegel, Daniel R, 1985. "Investment and the Valuation of Firms When There Is an Option to Shut Down," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 26(2), pages 331-349, June.
- Peter Zweifel & Konstantin Beck, 1987. "Utilities and Cogeneration: Some Regulatory Problems," The Energy Journal, International Association for Energy Economics, vol. 0(Number 4), pages 1-15.
- Dismukes, David E. & Kleit, Andrew N., 1999. "Cogeneration and electric power industry restructuring," Resource and Energy Economics, Elsevier, vol. 21(2), pages 153-166, May.
CitationsCitations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
- Greening, Lorna A. & Boyd, Gale & Roop, Joseph M., 2007. "Modeling of industrial energy consumption: An introduction and context," Energy Economics, Elsevier, vol. 29(4), pages 599-608, July.
- Westner, Günther & Madlener, Reinhard, 2011. "Development of cogeneration in Germany: A mean-variance portfolio analysis of individual technology’s prospects in view of the new regulatory framework," Energy, Elsevier, vol. 36(8), pages 5301-5313.
- Silvia Banfi & Massimo Filippini & Andrea Horehájová, 2012.
"Using a choice experiment to estimate the benefits of a reduction of externalities in urban areas with special focus on electrosmog,"
Taylor & Francis Journals, vol. 44(3), pages 387-397, January.
- Silvia Banfi & Massimo Filippini & Andrea Horehájová, 2007. "Using a Choice Experiment to Estimate the Benefits of a Reduction of Externalities in Urban Areas with Special Focus on Electrosmog," CEPE Working paper series 07-58, CEPE Center for Energy Policy and Economics, ETH Zurich.
- Mancarella, Pierluigi, 2014. "MES (multi-energy systems): An overview of concepts and evaluation models," Energy, Elsevier, vol. 65(C), pages 1-17.
- Chung, Mo & Park, Chuhwan & Lee, Sukgyu & Park, Hwa-Choon & Im, Yong-Hoon & Chang, Youngho, 2012. "A decision support assessment of cogeneration plant for a community energy system in Korea," Energy Policy, Elsevier, vol. 47(C), pages 365-383.
- Karina Schoengold & David L. Sunding, 2014. "The impact of water price uncertainty on the adoption of precision irrigation systems," Agricultural Economics, International Association of Agricultural Economists, vol. 45(6), pages 729-743, November.
- de Oliveira, Denis Luis & Brandao, Luiz E. & Igrejas, Rafael & Gomes, Leonardo Lima, 2014. "Switching outputs in a bioenergy cogeneration project: A real options approach," Renewable and Sustainable Energy Reviews, Elsevier, vol. 36(C), pages 74-82.
- repec:eee:rensus:v:91:y:2018:i:c:p:272-286 is not listed on IDEAS
- repec:gam:jsusta:v:10:y:2018:i:6:p:2069-:d:153149 is not listed on IDEAS
- William E., Lilley & Luke J., Reedman & Liam D., Wagner & Colin F., Alie & Anthony R., Szatow, 2012.
"An economic evaluation of the potential for distributed energy in Australia,"
Elsevier, vol. 51(C), pages 277-289.
- William Lilley & Luke Reedman & Liam Wagner & Colin Alie & Anthony Szatow, 2012. "An economic evaluation of the potential for distributed energy in Australia," Energy Economics and Management Group Working Papers 16, School of Economics, University of Queensland, Australia.
- repec:gam:jeners:v:11:y:2018:i:5:p:1133-:d:144382 is not listed on IDEAS
- Wittmann, Nadine & Yildiz, Özgür, 2013. "A microeconomic analysis of decentralized small scale biomass based CHP plants—The case of Germany," Energy Policy, Elsevier, vol. 63(C), pages 123-129.
- Svensson, Elin & Berntsson, Thore, 2014. "The effect of long lead times for planning of energy efficiency and biorefinery technologies at a pulp mill," Renewable Energy, Elsevier, vol. 61(C), pages 12-16.
- Carpaneto, Enrico & Chicco, Gianfranco & Mancarella, Pierluigi & Russo, Angela, 2011. "Cogeneration planning under uncertainty: Part I: Multiple time frame approach," Applied Energy, Elsevier, vol. 88(4), pages 1059-1067, April.
- Niall Farrell, Mel T. Devine, William T. Lee, James P. Gleeson, and Sean Lyons, 2017.
"Specifying An Efficient Renewable Energy Feed-in Tariff,"
The Energy Journal,
International Association for Energy Economics, vol. 0(Number 2).
- Farrell, Niall & Devine, Mel & Lee, William & Gleeson, James & Lyons, Seán, 2013. "Specifying An Efficient Renewable Energy Feed-in Tariff," MPRA Paper 49777, University Library of Munich, Germany.
- Andreas Welling, 2017. "Green Finance: Recent developments, characteristics and important actors," FEMM Working Papers 170002, Otto-von-Guericke University Magdeburg, Faculty of Economics and Management.
- Eder, Andreas, 2017. "Cost efficiency and economies of diversification of biogas-fuelled cogeneration plants in Austria: a nonparametric approach," MPRA Paper 80369, University Library of Munich, Germany.
- Himpler, Sebastian & Madlener, Reinhard, 2011. "Repowering of Wind Turbines: Economics and Optimal Timing," FCN Working Papers 19/2011, E.ON Energy Research Center, Future Energy Consumer Needs and Behavior (FCN).
- Somayeh Heydari & Nick Ovenden & Afzal Siddiqui, 2012. "Real options analysis of investment in carbon capture and sequestration technology," Computational Management Science, Springer, vol. 9(1), pages 109-138, February.
- Westner, Günther & Madlener, Reinhard, 2012.
"Investment in new power generation under uncertainty: Benefits of CHP vs. condensing plants in a copula-based analysis,"
Elsevier, vol. 34(1), pages 31-44.
- Westner, Günther & Madlener, Reinhard, 2010. "Investment in New Power Generation under Uncertainty: Benefits of CHP vs Condensing Plants in a Copula-Based Analysis," FCN Working Papers 12/2010, E.ON Energy Research Center, Future Energy Consumer Needs and Behavior (FCN).
- Siddiqui, Afzal S. & Maribu, Karl, 2009. "Investment and upgrade in distributed generation under uncertainty," Energy Economics, Elsevier, vol. 31(1), pages 25-37, January.
- Silvia Banfi & Massimo Filippini & Andrea Horehájová, 2007. "Hedonic Price Functions for Zurich and Lugano with Special Focus on Electrosmog," CEPE Working paper series 07-57, CEPE Center for Energy Policy and Economics, ETH Zurich.
- Svensson, Elin & Strömberg, Ann-Brith & Patriksson, Michael, 2011. "A model for optimization of process integration investments under uncertainty," Energy, Elsevier, vol. 36(5), pages 2733-2746.
- Svensson, Elin & Berntsson, Thore & Strömberg, Ann-Brith & Patriksson, Michael, 2009. "An optimization methodology for identifying robust process integration investments under uncertainty," Energy Policy, Elsevier, vol. 37(2), pages 680-685, February.
- Svensson, Elin & Berntsson, Thore, 2011. "Planning future investments in emerging energy technologies for pulp mills considering different scenarios for their investment cost development," Energy, Elsevier, vol. 36(11), pages 6508-6519.
More about this item
- C61 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling - - - Optimization Techniques; Programming Models; Dynamic Analysis
- D21 - Microeconomics - - Production and Organizations - - - Firm Behavior: Theory
- D81 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Criteria for Decision-Making under Risk and Uncertainty
- D92 - Microeconomics - - Micro-Based Behavioral Economics - - - Intertemporal Firm Choice, Investment, Capacity, and Financing
- O33 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Technological Change: Choices and Consequences; Diffusion Processes
- Q41 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Energy - - - Demand and Supply; Prices
- Q48 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Energy - - - Government Policy
StatisticsAccess and download statistics
All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:eee:eneeco:v:29:y:2007:i:4:p:934-952. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Dana Niculescu). General contact details of provider: http://www.elsevier.com/locate/eneco .
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.
Please note that corrections may take a couple of weeks to filter through the various RePEc services.