000244540 001__ 244540 000244540 005__ 20250221175721.0 000244540 0247_ $$2doi$$a10.22004/ag.econ.244540 000244540 037__ $$a839-2016-55878 000244540 041__ $$aeng 000244540 084__ $$aQ42 000244540 084__ $$aC61 000244540 084__ $$aD81 000244540 245__ $$aInvesting in Photovoltaics: Timing, Plant Sizing and Smart Grids Flexibility 000244540 260__ $$c2016-09-07 000244540 269__ $$a2016-09-07 000244540 270__ $$mmichele.moretto@unipd.it$$pMoretto, Michele 000244540 300__ $$a30 000244540 336__ $$aWorking or Discussion Paper 000244540 490__ $$aMITP 000244540 490__ $$a60.2016 000244540 520__ $$aIn Italy and in many EU countries, the last decade was characterized by a large development of distributed generation power plants. Their presence determined new critical issues for the design and management of the overall energy system and the electric grid due to the presence of discontinuous production sources. It is commonly agreed that contingent problems that affect local grids (e.g. inefficiency, congestion rents, power outages, etc.) may be solved by the implementation of a “smarter” electric grid. The main feature of smarts grid is the great increase in production and consumption flexibility. Smart grids give producers and consumers, the opportunity to be active in the market and strategically decide their optimal production/consumption scheme. The paper provides a theoretical framework to model the prosumer’s decision to invest in a photovoltaic power plant, assuming it is integrated in a smart grid. To capture the value of managerial flexibility, a real option approach is implemented. We calibrate and test the model by using data from the Italian energy market. 000244540 546__ $$aEnglish 000244540 650__ $$aResource/Energy Economics and Policy 000244540 6531_ $$aSmart Grids 000244540 6531_ $$aRenewable Energy Sources 000244540 6531_ $$aReal Options 000244540 6531_ $$aProsumer 000244540 700__ $$aBertolini, Marina 000244540 700__ $$aD’Alpaos, Chiara 000244540 700__ $$aMoretto, Michele 000244540 8564_ $$9a2a39701-a0d0-403d-b3f0-4e25ff003a8b$$s1359289$$uhttps://ageconsearch.umn.edu/record/244540/files/NDL2016-060.pdf 000244540 887__ $$ahttp://purl.umn.edu/244540 000244540 909CO $$ooai:ageconsearch.umn.edu:244540$$pGLOBAL_SET 000244540 912__ $$nSubmitted by Emanuela Ragnolini (emanuela.ragnolini@feem.it) on 2016-09-07T09:14:50Z No. of bitstreams: 1 NDL2016-060.pdf: 1359289 bytes, checksum: 5d6458aa026c1e33790044aacc1879c6 (MD5) 000244540 912__ $$nMade available in DSpace on 2016-09-07T09:14:50Z (GMT). No. of bitstreams: 1 NDL2016-060.pdf: 1359289 bytes, checksum: 5d6458aa026c1e33790044aacc1879c6 (MD5) Previous issue date: 2016-09-07 000244540 913__ $$aLicense granted by Emanuela Ragnolini (emanuela.ragnolini@feem.it) on 2016-09-07T09:11:42Z (GMT): <p class="ds-paragraph"> By depositing this Content ("Content") in AgEcon Search, I agree that I am solely responsible for any consequences of uploading this Content to AgEcon Search and making it publicly available, and I represent and warrant that: I am either the sole creator and the owner of the copyrights and all other rights in the Content; or, without obtaining another’s permission, I have the right to deposit the Content in an archive such as AgEcon Search. To the extent that any portions of the Content are not my own creation, they are used with the copyright holder’s express permission or as permitted by law. Additionally, the Content does not infringe the copyrights or other intellectual property rights of another, nor does the Content violate any laws or another’s rights of privacy or publicity. The Content contains no restricted, private, confidential, or otherwise protected data or information that should not be publicly shared. I understand that AgEcon Search will do its best to provide perpetual access to my Content. In order to support these efforts, I grant the Regents of the University of Minnesota ("University"), through AgEcon Search, the following non-exclusive, irrevocable, royalty-free, world-wide rights and licenses: to access, reproduce, distribute and publicly display the Content, in whole or in part, in order to secure, preserve and make it publicly available, and to make derivative works based upon the Content in order to migrate the Content to other media or formats, or to preserve its public access. These terms do not transfer ownership of the copyright(s) in the Content. These terms only grant to the University the limited license outlined above. </p> 000244540 980__ $$a839 000244540 982__ $$gFondazione Eni Enrico Mattei (FEEM)>MITP: Mitigation, Innovation and Transformation Pathways