High fossil fuel prices have rekindled interest in nuclear power. This paper identifies specific nuclear characteristics making it unattractive to merchant generators in liberalized electricity markets, and argues that non-fossil fuel technologies have an overlooked ‘option value’ given fuel and carbon price uncertainty. Stochastic optimization estimates the company option value of keeping open...

In this paper we show how a multidimensional American real option may be solved using the LSM simulation method originally proposed by Longstaff and Schwartz [2001, The Review of the Financial Studies 14(1): 113–147] for valuing a financial option and how this method can be used in a complex setting. We extend a well-known natural resource real option model, initially solved using finite differ...

This paper provides an approach to incorporate planned investments in power grid infrastructure Germany, which are expected offer the necessary flexibility integrate large shares of variable renewable energy sources into system, a dynamic stochastic equilibrium model. Since investments' economic impact remains unclear, our research sheds light on two questions: Do Germany have potential positiv...

Abstract The European Union guides its member states to a gradual uptake of sustainable aviation fuel (SAF) from 2% vol. in 2025 63% by 2050 with the ReFuelEU proposal as part Fit-for-55 package. A promising production pathway for SAF presents itself Power Biomass Liquid (PBtL) process, which converts non-crop-based biomass residue and renewable power via Fischer–Tropsch route. In this study, t...

In recent years, due to the fact that non-renewable energies come to an end, renewable energy is expected to provide a significant part of the future needs of Iran. Among these energies, solar energy is a suitable option for a wide range of the country, due to availability, proper radiation intensity, and high sunshine times during the year (about 300 sunny days per year). The purpose of this p...

A novel low power and low transistor count static energy recovery full adder (SERF) is presented in this paper. The power consumption and general characteristics of the SERF adder are then compared against three low power full adders; the transmission function adder (TFA), the dual value logic (DVL) adder and the fourteen transistor (14T) full adder. The proposed SERF adder design was proven to...