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【講演要旨】9月6日（月）15:30-16:00 第7-220室
「Effect of Carbon-Emissions Tax on Power Generation Mix and
Investment Timing」
The realization of low-carbon includes a utilization of low carbon
emission generation power. Therefore it is necessary to expand use of renewable
energy power, nuclear power, and low-carbon thermal power.These policies
may require a large amount o investment costs, and additionally, the uncertainty
increases in a situation surrounding power generation projects and their
investments. On the other hand, environmental policy for encouraging use
of low carbon emission generation power includes an internalization of
the externality for CO2 emissions such as carbon-emissions tax. In this
study, we develop a real option model of power generation investments allowing
for two
uncertainties of the market risk and the introduction of the policy. We
analyze the effect of the uncertainties on the power generation mix andthe
investment timing.
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