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A real options–based CCS investment evaluation model: Case study of China’s power generation sector

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  1. Fan, Jing-Li & Xu, Mao & Yang, Lin & Zhang, Xian & Li, Fengyu, 2019. "How can carbon capture utilization and storage be incentivized in China? A perspective based on the 45Q tax credit provisions," Energy Policy, Elsevier, vol. 132(C), pages 1229-1240.
  2. Zhang, Xinhua & Gan, Dongmei & Wang, Yali & Liu, Yu & Ge, Jiali & Xie, Rui, 2020. "The impact of price and revenue floors on carbon emission reduction investment by coal-fired power plants," Technological Forecasting and Social Change, Elsevier, vol. 154(C).
  3. Work, James & Hauer, Grant & Luckert, M.K. (Marty), 2018. "What ethanol prices would induce growers to switch from agriculture to poplar in Alberta? A multiple options approach," Journal of Forest Economics, Elsevier, vol. 33(C), pages 51-62.
  4. Mo, Jianlei & Schleich, Joachim & Fan, Ying, 2018. "Getting ready for future carbon abatement under uncertainty – Key factors driving investment with policy implications," Energy Economics, Elsevier, vol. 70(C), pages 453-464.
  5. Tamaki, Tetsuya & Nozawa, Wataru & Managi, Shunsuke, 2017. "Evaluation of the ocean ecosystem: Climate change modelling with backstop technologies," Applied Energy, Elsevier, vol. 205(C), pages 428-439.
  6. Wang, Xingwei & Cai, Yanpeng & Dai, Chao, 2014. "Evaluating China's biomass power production investment based on a policy benefit real options model," Energy, Elsevier, vol. 73(C), pages 751-761.
  7. Xiping Wang & Shaoyuan Qie, 2018. "Study on the investment timing of carbon capture and storage under different business modes," Greenhouse Gases: Science and Technology, Blackwell Publishing, vol. 8(4), pages 639-649, August.
  8. Zhang, Hanyu & Assereto, Martina & Byrne, Julie, 2023. "Deferring real options with solar renewable energy certificates," Global Finance Journal, Elsevier, vol. 55(C).
  9. Brauneis, Alexander & Mestel, Roland & Palan, Stefan, 2013. "Inducing low-carbon investment in the electric power industry through a price floor for emissions trading," Energy Policy, Elsevier, vol. 53(C), pages 190-204.
  10. Fan, Jing-Li & Xu, Mao & Yang, Lin & Zhang, Xian, 2019. "Benefit evaluation of investment in CCS retrofitting of coal-fired power plants and PV power plants in China based on real options," Renewable and Sustainable Energy Reviews, Elsevier, vol. 115(C).
  11. Zhang, M.M. & Wang, Qunwei & Zhou, Dequn & Ding, H., 2019. "Evaluating uncertain investment decisions in low-carbon transition toward renewable energy," Applied Energy, Elsevier, vol. 240(C), pages 1049-1060.
  12. Tian, Lixin & Pan, Jianglai & Du, Ruijin & Li, Wenchao & Zhen, Zaili & Qibing, Gao, 2017. "The valuation of photovoltaic power generation under carbon market linkage based on real options," Applied Energy, Elsevier, vol. 201(C), pages 354-362.
  13. Amalia Rodrigo-González & Alfredo Grau-Grau & Inmaculada Bel-Oms, 2021. "Circular Economy and Value Creation: Sustainable Finance with a Real Options Approach," Sustainability, MDPI, vol. 13(14), pages 1-30, July.
  14. Mo, Jian-Lei & Schleich, Joachim & Zhu, Lei & Fan, Ying, 2015. "Delaying the introduction of emissions trading systems—Implications for power plant investment and operation from a multi-stage decision model," Energy Economics, Elsevier, vol. 52(PB), pages 255-264.
  15. Pettinau, Alberto & Ferrara, Francesca & Tola, Vittorio & Cau, Giorgio, 2017. "Techno-economic comparison between different technologies for CO2-free power generation from coal," Applied Energy, Elsevier, vol. 193(C), pages 426-439.
  16. Lei Zhu & Xin Liu, 2015. "Promoting the Carbon Removal in Coal Utilization-A Benefit-Risk Analysis among Full-Chain Carbon Capture and Utilization Project," Energy & Environment, , vol. 26(6-7), pages 1035-1053, November.
  17. Fan, Ying & Mo, Jian-Lei & Zhu, Lei, 2013. "Evaluating coal bed methane investment in China based on a real options model," Resources Policy, Elsevier, vol. 38(1), pages 50-59.
  18. Viebahn, Peter & Vallentin, Daniel & Höller, Samuel, 2015. "Prospects of carbon capture and storage (CCS) in China’s power sector – An integrated assessment," Applied Energy, Elsevier, vol. 157(C), pages 229-244.
  19. Li, Kangkang & Yu, Hai & Qi, Guojie & Feron, Paul & Tade, Moses & Yu, Jingwen & Wang, Shujuan, 2015. "Rate-based modelling of combined SO2 removal and NH3 recycling integrated with an aqueous NH3-based CO2 capture process," Applied Energy, Elsevier, vol. 148(C), pages 66-77.
  20. Herui Cui & Tian Zhao & Ruirui Wu, 2018. "An Investment Feasibility Analysis of CCS Retrofit Based on a Two-Stage Compound Real Options Model," Energies, MDPI, vol. 11(7), pages 1-19, July.
  21. Fan, Jing-Li & Xu, Mao & Li, Fengyu & Yang, Lin & Zhang, Xian, 2018. "Carbon capture and storage (CCS) retrofit potential of coal-fired power plants in China: The technology lock-in and cost optimization perspective," Applied Energy, Elsevier, vol. 229(C), pages 326-334.
  22. Jungmin An & Dong-Kwan Kim & Jinyeong Lee & Sung-Kwan Joo, 2021. "Least Squares Monte Carlo Simulation-Based Decision-Making Method for Photovoltaic Investment in Korea," Sustainability, MDPI, vol. 13(19), pages 1-14, September.
  23. Chen, Shiyi & Xiang, Wenguo & Wang, Dong & Xue, Zhipeng, 2012. "Incorporating IGCC and CaO sorption-enhanced process for power generation with CO2 capture," Applied Energy, Elsevier, vol. 95(C), pages 285-294.
  24. Maeda, Mansaku & Watts, David, 2019. "The unnoticed impact of long-term cost information on wind farms’ economic value in the USA. – A real option analysis," Applied Energy, Elsevier, vol. 241(C), pages 540-547.
  25. Zhu, Lei & Fan, Ying, 2013. "Modelling the investment in carbon capture retrofits of pulverized coal-fired plants," Energy, Elsevier, vol. 57(C), pages 66-75.
  26. Fan, Jing-Li & Shen, Shuo & Wei, Shi-Jie & Xu, Mao & Zhang, Xian, 2020. "Near-term CO2 storage potential for coal-fired power plants in China: A county-level source-sink matching assessment," Applied Energy, Elsevier, vol. 279(C).
  27. Lee, Jaehee & Han, Sang-Jun & Wee, Jung-Ho, 2014. "Synthesis of dry sorbents for carbon dioxide capture using coal fly ash and its performance," Applied Energy, Elsevier, vol. 131(C), pages 40-47.
  28. Zhang, M.M. & Zhou, D.Q. & Zhou, P. & Liu, G.Q., 2016. "Optimal feed-in tariff for solar photovoltaic power generation in China: A real options analysis," Energy Policy, Elsevier, vol. 97(C), pages 181-192.
  29. Zhao, Xiaoli & Yao, Jin & Sun, Chuyu & Pan, Wengeng, 2019. "Impacts of carbon tax and tradable permits on wind power investment in China," Renewable Energy, Elsevier, vol. 135(C), pages 1386-1399.
  30. ShahNazari, Mahdi & McHugh, Adam & Maybee, Bryan & Whale, Jonathan, 2014. "The effect of political cycles on power investment decisions: Expectations over the repeal and reinstatement of carbon policy mechanisms in Australia," Applied Energy, Elsevier, vol. 130(C), pages 157-165.
  31. Eide, Jan & de Sisternes, Fernando J. & Herzog, Howard J. & Webster, Mort D., 2014. "CO2 emission standards and investment in carbon capture," Energy Economics, Elsevier, vol. 45(C), pages 53-65.
  32. Liu, Feng & Lv, Tao & Meng, Yuan & Li, Cong & Hou, Xiaoran & Xu, Jie & Deng, Xu, 2023. "Potential analysis of BESS and CCUS in the context of China's carbon trading scheme toward the low-carbon electricity system," Renewable Energy, Elsevier, vol. 210(C), pages 462-471.
  33. Guo, Zheng & Cheng, Rui & Xu, Zhaofeng & Liu, Pei & Wang, Zhe & Li, Zheng & Jones, Ian & Sun, Yong, 2017. "A multi-region load dispatch model for the long-term optimum planning of China’s electricity sector," Applied Energy, Elsevier, vol. 185(P1), pages 556-572.
  34. Fikru, Mahelet G. & Azure, Jessica W.A., 2023. "Renewable energy technologies and carbon capture retrofits are strategic complements," Technological Forecasting and Social Change, Elsevier, vol. 196(C).
  35. Chen, Siyuan & Zhang, Qi & Wang, Ge & Zhu, Lijing & Li, Yan, 2018. "Investment strategy for underground gas storage facilities based on real option model considering gas market reform in China," Energy Economics, Elsevier, vol. 70(C), pages 132-142.
  36. Liu, Xiaoran & Ronn, Ehud I., 2020. "Using the binomial model for the valuation of real options in computing optimal subsidies for Chinese renewable energy investments," Energy Economics, Elsevier, vol. 87(C).
  37. Zhang, Shuwei & Bauer, Nico & Luderer, Gunnar & Kriegler, Elmar, 2014. "Role of technologies in energy-related CO2 mitigation in China within a climate-protection world: A scenarios analysis using REMIND," Applied Energy, Elsevier, vol. 115(C), pages 445-455.
  38. Cheng, Rui & Xu, Zhaofeng & Liu, Pei & Wang, Zhe & Li, Zheng & Jones, Ian, 2015. "A multi-region optimization planning model for China’s power sector," Applied Energy, Elsevier, vol. 137(C), pages 413-426.
  39. Fan, Jing-Li & Li, Zezheng & Ding, Zixia & Li, Kai & Zhang, Xian, 2023. "Investment decisions on carbon capture utilization and storage retrofit of Chinese coal-fired power plants based on real option and source-sink matching models," Energy Economics, Elsevier, vol. 126(C).
  40. Assereto, Martina & Byrne, Julie, 2021. "No real option for solar in Ireland: A real option valuation of utility scale solar investment in Ireland," Renewable and Sustainable Energy Reviews, Elsevier, vol. 143(C).
  41. Cristóbal, Jorge & Guillén-Gosálbez, Gonzalo & Jiménez, Laureano & Irabien, Angel, 2012. "Multi-objective optimization of coal-fired electricity production with CO2 capture," Applied Energy, Elsevier, vol. 98(C), pages 266-272.
  42. Lee, Suh-Young & Lee, Jae-Uk & Lee, In-Beum & Han, Jeehoon, 2017. "Design under uncertainty of carbon capture and storage infrastructure considering cost, environmental impact, and preference on risk," Applied Energy, Elsevier, vol. 189(C), pages 725-738.
  43. Zhang, Xian & Wang, Xingwei & Chen, Jiajun & Xie, Xi & Wang, Ke & Wei, Yiming, 2014. "A novel modeling based real option approach for CCS investment evaluation under multiple uncertainties," Applied Energy, Elsevier, vol. 113(C), pages 1059-1067.
  44. Peter Viebahn & Daniel Vallentin & Samuel Höller, 2015. "Integrated Assessment of Carbon Capture and Storage (CCS) in South Africa’s Power Sector," Energies, MDPI, vol. 8(12), pages 1-27, December.
  45. Zhang, M.M. & Zhou, P. & Zhou, D.Q., 2016. "A real options model for renewable energy investment with application to solar photovoltaic power generation in China," Energy Economics, Elsevier, vol. 59(C), pages 213-226.
  46. Carmen Schiel & Simon Glöser-Chahoud & Frank Schultmann, 2019. "A real option application for emission control measures," Journal of Business Economics, Springer, vol. 89(3), pages 291-325, April.
  47. Tamaki, Tetsuya & Nozawa, Wataru & Managi, Shunsuke, 2017. "Evaluation of the ocean ecosystem: climate change modelling with backstop technology," MPRA Paper 80549, University Library of Munich, Germany.
  48. Zhang, Mingming & Zhou, Dequn & Zhou, Peng, 2014. "A real option model for renewable energy policy evaluation with application to solar PV power generation in China," Renewable and Sustainable Energy Reviews, Elsevier, vol. 40(C), pages 944-955.
  49. Njomza Ibrahimi & Alemayehu Gebremedhin & Alketa Sahiti, 2019. "Achieving a Flexible and Sustainable Energy System: The Case of Kosovo," Energies, MDPI, vol. 12(24), pages 1-22, December.
  50. Thomas Aspinall & Adrian Gepp & Geoff Harris & Simone Kelly & Colette Southam & Bruce Vanstone, 2021. "Estimation of a term structure model of carbon prices through state space methods: The European Union emissions trading scheme," Accounting and Finance, Accounting and Finance Association of Australia and New Zealand, vol. 61(2), pages 3797-3819, June.
  51. Hanne Lamberts-Van Assche & Tine Compernolle, 2022. "Using Real Options Thinking to Value Investment Flexibility in Carbon Capture and Utilization Projects: A Review," Sustainability, MDPI, vol. 14(4), pages 1-24, February.
  52. Mingming Zhang & Dequn Zhou & Hao Ding & Jingliang Jin, 2016. "Biomass Power Generation Investment in China: A Real Options Evaluation," Sustainability, MDPI, vol. 8(6), pages 1-22, June.
  53. Zhang, M.M. & Zhou, D.Q. & Zhou, P. & Chen, H.T., 2017. "Optimal design of subsidy to stimulate renewable energy investments: The case of China," Renewable and Sustainable Energy Reviews, Elsevier, vol. 71(C), pages 873-883.
  54. Bo Sun & Jiajia Tao, 2024. "Investment Decisions of CCUS Projects in China Considering the Supply–Demand Relationship of CO 2 from the Industry Symbiosis Perspective," Sustainability, MDPI, vol. 16(12), pages 1-25, June.
  55. Ke Shi & Chuangyi Li & Choongwan Koo, 2021. "A Techno-Economic Feasibility Analysis of Mono-Si and Poly-Si Photovoltaic Systems in the Rooftop Area of Commercial Building under the Feed-In Tariff Scheme," Sustainability, MDPI, vol. 13(9), pages 1-22, April.
  56. Chen, Siyuan & Liu, Jiangfeng & Zhang, Qi & Teng, Fei & McLellan, Benjamin C., 2022. "A critical review on deployment planning and risk analysis of carbon capture, utilization, and storage (CCUS) toward carbon neutrality," Renewable and Sustainable Energy Reviews, Elsevier, vol. 167(C).
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  59. Knoope, M.M.J. & Ramírez, A. & Faaij, A.P.C., 2015. "The influence of uncertainty in the development of a CO2 infrastructure network," Applied Energy, Elsevier, vol. 158(C), pages 332-347.
  60. repec:grz:wpsses:2011-01 is not listed on IDEAS
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