基于实物期权理论CCS项目投资激励研究
Research on CCS project investment incentive based on real option theory
贺诗淼1
作者信息
- 1. 东北电力大学经济管理学院,吉林吉林 132012
- 折叠
摘要
为了促进我国燃煤电厂投资CCS(二氧化碳捕集与封存)项目,立足燃煤电厂的视角,以实物期权为基础,构造CCS项目投资激励模型.从投资不可逆性、收益不确定性及投资时机可选择性以剖析燃煤电厂CCS技术实物期权特性,并从碳税、清洁电价补贴和政府投资补贴该3个方面建立与临界碳价的关系,且比较了碳税、投资补贴、清洁电价补贴3种变量的激励效果.通过研究得知,在碳捕获和封存技术中,政府对发电商进行成本补贴最为有效,即便是补贴很低却也能大幅推动碳捕获和封存的投资.
Abstract
In order to promote China's coal-fired power plants to invest in CCS(carbon dioxide capture and storage)projects,based on the perspective of coal-fired power plants and based on real options,an investment incentive model for CCS projects is constructed.This paper analyzes the real option characteristics of CCS technology in coal-fired power plants from the aspects of investment irreversibility,income uncertainty and investment opportunity selectivity,and establishes the relationship with critical carbon price from carbon tax,clean electricity price subsidy and government investment subsidy,and compares the incentive effects of carbon tax,investment subsidy and clean electricity price subsidy.Through the research,we know that among the carbon capture and storage technologies,the government's cost subsidy to power producers is the most effective,even if the subsidy is very low,it can greatly promote the investment in carbon capture and storage technology.
关键词
CCS/实物期权/项目投资激励/临界碳价/燃煤电厂/碳税/投资补贴/清洁电价补贴Key words
CCS/real option/project investment incentive/critical carbon price/coal-fired power plant/carbon tax/investment subsidy/clean electricity price subsidy引用本文复制引用
出版年
2024
NETL
NSTL
万方数据