Valuation of Investments in Building Energy Improvements under Uncertainties

不确定性下建筑能源改善投资的估值

• 批准号: 1300918
• 负责人: Baabak Ashuri
• 金额: $ 25万
• 依托单位: Georgia Tech Research Corporation
• 依托单位国家: 美国
• 项目类别: Standard Grant
• 财政年份: 2013
• 资助国家: 美国
• 起止时间: 2013-08-15 至 2017-07-31
• 项目状态: 已结题
• 来源: https://www.nsf.gov/awardsearch/showAward?AWD_ID=1300918&HistoricalAwards=false
• 关键词: Valuation; Investments; Building; Energy; Improvements

The objective of this research is to create an investment valuation model to assess building energy-saving projects under uncertainty that takes into account the future of energy prices and the cost and performance of energy-saving technologies. This investment valuation model will determine the optimal time of investment for the building energy-saving project. The proposed model is based on a real options formulation. An alternative method will be developed to estimate the volatility of the investment that captures the impact of the uncertainty on the value of the energy-saving project. The proposed investment valuation model will be used to examine how uncertainty potentially influences the behavior of decision makers when dealing with energy-saving projects and in this way provide some theoretical insights. Actual energy-saving projects will be utilized to refine and validate the developed model.If successful, this project will provide the research community with a well-founded investment valuation model that will be tailored for energy-saving investments. This research will assist investors to make hard energy-saving decisions that increase the likelihood of achieving ambitious national energy reduction goals over the long-term. By holding workshops, the research outcomes will be communicated to building energy professionals. This research engages a large number of underrepresented, economically disadvantaged students from the joint program between the Georgia Tech Center for Education Integrating Science, Mathematics and Computing (CEISMC) and the Rockdale High School (a high needs Title I school) that focuses in science, technology, engineering, and mathematics (STEM) learning activities. This activity is intended to raise awareness about energy efficiency of high school students. High school students and their teachers will be hosted in the Georgia Tech Economics of Sustainable Built Environment Lab for a four-week research boot camp in energy-efficient buildings.

本研究的目的是建立一个投资评估模型，以评估不确定性下的建筑节能项目，考虑到未来的能源价格和节能技术的成本和性能。该投资评估模型将确定建筑节能项目的最佳投资时机。所提出的模型是基于一个真实的期权配方。将开发一种替代方法来估计投资的波动性，以捕捉不确定性对节能项目价值的影响。建议的投资评估模型将被用来研究如何不确定性潜在地影响决策者的行为时，处理节能项目，并以这种方式提供一些理论见解。将利用实际的节能项目来完善和验证所开发的模型。如果成功，该项目将为研究界提供一个有充分依据的投资评估模型，该模型将针对节能投资进行调整。这项研究将帮助投资者做出艰难的节能决策，增加实现雄心勃勃的国家长期节能目标的可能性。通过举办研讨会，研究成果将传达给建筑能源专业人员。这项研究从事大量的代表性不足，经济上处于不利地位的学生之间的联合计划格鲁吉亚技术中心教育整合科学，数学和计算（CEISMC）和罗克代尔高中（一个高需求标题I学校），专注于科学，技术，工程和数学（干）学习活动。该活动旨在提高高中生的能源效率意识。高中学生和他们的老师将在格鲁吉亚可持续建筑环境技术经济实验室进行为期四周的节能建筑研究靴子训练营。