The valuation of photovoltaic power generation under carbon market linkage based on real options

This paper provides a real option approach to analyze investment value for photovoltaic power generation under carbon market linkage. The primary purpose is to evaluate photovoltaic power generation under uncertainties from the perspective of power generation enterprises. Uncertainties in investment costs, electricity prices, carbon prices and subsidy payments are considered. In addition, the Market Co-movements of investment costs are...