Real Option 모형을 활용한 풍력발전 에너지 저장장치 추가의 최적 투자 분석

This paper proposes areal option model to analyze optimal investment time to adopt an energy storage system (ESS) for wind power systems. Using the suggested model, we can derive the optimal threshold to invest the ESS. According to our results, when REC weight and the ratio of REC to total profit decreases, the optimal investment threshold increases significantly. This implies that the decrements can be barriers to promoting adoption of ESS. Also,it is shown that higher volatility and discount rate can be another obstacles to the investment.