Optimal investment strategies in decentralized renewable power generation under uncertainty

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Renewable energy investments under different support schemes: A real options approach (2012, background): “Similar work with investments in renewable electricity includes [19], who analyze investment timing and a discrete capacity choice between a number of decentralized generation units, such as wind turbines.”
Investment risks under uncertain climate change policy (2007, background): “Recent examples include Fleten et al. (2007), who find that investment in power plants require greater returns than the traditional net-present-value (NPV) breakeven point when a real options approach with stochastic prices is used.”
How to Proceed with Competing Alternative Energy Technologies: a Real Options Analysis (2010, methodology): “Newton and Pearson (1994) use the Black–Scholes formula to value R&D, Grenadier andWeiss (1997) use real options to analyse the decision to replace an existing technology with a randomly arriving new technology, and Jensen and Warren (2001) consider two distinct phases in project development.”
Who invests in renewable electricity production? Empirical evidence and suggestions for further research (2013, background): “…al., 2007; Kangas et al., 2011) and who make their investment decisions based on comparisons between different electricity production plants (cf. Awerbuch, 2000; Fleten et al., 2007; Gross et al., 2010; Koo et al., 2011; Neuhoff et al., 2008; Pettersson and Söderholm, 2009; Söderholm et al., 2007).”