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Photovoltaic power plants: a multicriteria approach to investment decisions and a case study in western Spain

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Photovoltaic power plants: a multicriteria approach to investment decisions and a case study in western Spain

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dc.contributor.author Garcia-Bernabeu, A. es_ES
dc.contributor.author Benito Benito, Antonio es_ES
dc.contributor.author Bravo Sellés, Milagros es_ES
dc.contributor.author Pla Santamaría, David es_ES
dc.date.accessioned 2015-06-15T13:41:39Z
dc.date.available 2015-06-15T13:41:39Z
dc.date.issued 2015-03
dc.identifier.issn 0254-5330
dc.identifier.uri http://hdl.handle.net/10251/51726
dc.description.abstract his paper proposes a compromise programming (CP) model to help investors decide whether to construct photovoltaic power plants with government financial support. For this purpose, we simulate an agreement between the government, who pursues political prices (guaranteed prices) as low as possible, and the project sponsor who wants returns (stochastic cash flows) as high as possible. The sponsor s decision depends on the positive or negative result of this simulation, the resulting simulated price being compared to the effective guaranteed price established by the country legislation for photovoltaic energy. To undertake the simulation, the CP model articulates variables such as ranges of guaranteed prices, tech- nical characteristics of the plant, expected energy to be generated over the investment life, investment cost, cash flow probabilities, and others. To determine the CP metric, risk aver- sion is assumed. As an actual application, a case study on photovoltaic power investment in Extremadura, western Spain, is developed in detail. es_ES
dc.language Inglés es_ES
dc.publisher Springer Verlag (Germany) es_ES
dc.relation.ispartof Annals of Operations Research es_ES
dc.rights Reserva de todos los derechos es_ES
dc.subject Multicriteria decision making analysis es_ES
dc.subject Stochastic cash flows es_ES
dc.subject Guaranteed prices es_ES
dc.subject Renewable energy es_ES
dc.subject Compromise Programming es_ES
dc.subject.classification ECONOMIA APLICADA es_ES
dc.subject.classification ECONOMIA FINANCIERA Y CONTABILIDAD es_ES
dc.title Photovoltaic power plants: a multicriteria approach to investment decisions and a case study in western Spain es_ES
dc.type Artículo es_ES
dc.identifier.doi 10.1007/s10479-015-1836-2
dc.rights.accessRights Abierto es_ES
dc.contributor.affiliation Universitat Politècnica de València. Departamento de Economía y Ciencias Sociales - Departament d'Economia i Ciències Socials es_ES
dc.description.bibliographicCitation Garcia-Bernabeu, A.; Benito Benito, A.; Bravo Selles, M.; Pla Santamaría, D. (2015). Photovoltaic power plants: a multicriteria approach to investment decisions and a case study in western Spain. Annals of Operations Research. 1-12. doi:10.1007/s10479-015-1836-2 es_ES
dc.description.accrualMethod S es_ES
dc.relation.publisherversion http://link.springer.com/article/10.1007%2Fs10479-015-1836-2 es_ES
dc.description.upvformatpinicio 1 es_ES
dc.description.upvformatpfin 12 es_ES
dc.type.version info:eu-repo/semantics/publishedVersion es_ES
dc.relation.senia 283974
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