摘要
基于实物期权理论构建投资激励政策与企业投资CCS临界值的数学模型,创新引入清洁电价政策变量,通过数值计算分析政策因素对投资临界碳价的影响。结果发现：提高碳税税率,使投资临界降低;政府投资补贴增加,投资CCS的期权价值也随之增大;提高清洁电价,由于发电量基数大,投资临界明显降低;碳价波动率的增加会增大投资风险,但发电商会期望高收益而倾向投资。
In this paper,the value of real option is taken into consideration when modeling the mathematical model of incentive investment policy and investment decision of CCS made by enterprises when clean electricity price is introduced. Then uncertain policies＇ effects on the critical investment carbon price are confirmed through the numerical analysis. The results indicate that： increasing the carbon tax rate,the critical investment threshold of carbon price is lower; increasing the initial investment subsidy,the value of investment on CCS project also increases; because of the large amount of generated energy,per unit clean electricity price can significantly reduce critical investment threshold of carbon price; the increase of the carbon price volatility levels up the risk of earnings,but generation company will anticipate high yield to cover the costs and tend to invest CCS project.
出处
《软科学》
CSSCI
北大核心
2018年第2期55-59,共5页
Soft Science
基金
国家自然科学基金项目(71401191
71401195)
教育部人文社会科学基金项目(14YJCZH041)
中央财经大学2015年课程教学团队——项目评估课程教学团队项目
