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How to proceed with competing alternative energy technologies: A real options analysis

Siddiqui, A; Fleten, SE; (2010) How to proceed with competing alternative energy technologies: A real options analysis. Energy Economics , 32 (4) pp. 817-830. 10.1016/j.eneco.2009.12.007.

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Abstract

Concerns about CO 2 emissions create incentives for the development and deployment of energy technologies that do not use fossil fuels. Indeed, such technologies would provide tangible benefits in terms of avoided fossil-fuel costs, which are likely to increase as restrictions on CO 2 emissions are imposed. However, a number of challenges need to be overcome prior to market deployment, and the commercialisation of alternative energy technologies may require a staged approach given price and technical risk. We analyse how a firm may proceed with staged commercialisation and deployment of competing alternative energy technologies. An unconventional new alternative technology is one possibility, where one could undertake cost-reducing production enhancement measures as an intermediate step prior to deployment. By contrast, the firm could choose to deploy a smaller-scale existing renewable energy technology, and, using the real options framework, we compare the two projects to provide managerial implications on how one might proceed. © 2009 Elsevier B.V.

Type: Article
Title: How to proceed with competing alternative energy technologies: A real options analysis
DOI: 10.1016/j.eneco.2009.12.007
UCL classification: UCL > School of BEAMS
UCL > School of BEAMS > Faculty of Maths and Physical Sciences
URI: http://discovery.ucl.ac.uk/id/eprint/151371
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