Photovoltaic Solar Energy in Forest Nurseries: A Strategic Decision Based on Real Options Analysis

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dc.contributor.authorRocha, Qüinny Soares [UNESP]
dc.contributor.authorMunis, Rafaele Almeida [UNESP]
dc.contributor.authorda Silva, Richardson Barbosa Gomes [UNESP]
dc.contributor.authorAguilar, Elí Wilfredo Zavaleta [UNESP]
dc.contributor.authorSimões, Danilo [UNESP]
dc.contributor.institutionUniversidade Estadual Paulista (UNESP)
dc.date.accessioned2023-07-29T13:46:00Z
dc.date.available2023-07-29T13:46:00Z
dc.date.issued2023-03-01
dc.description.abstractWith the growing demand for investment projects in renewable energy, it is essential for the economic feasibility analysis to consider the inherent uncertainties of these projects and enable more accurate investment decisions. In this way, we analyze whether investment projects in photovoltaic panels to produce electrical energy in a forest nursery are economically viable through the analysis of real options. We consider the energy demand of a forest nursery with an initial investment of USD 90,417 in photovoltaic panels. The managerial flexibilities of deferral, expansion of 30.0% of the energy production capacity, and the project’s abandonment were inserted into the binomial model of the decision tree, built in discrete time. The project’s expanded net present value was 79.2% higher than the traditional net present value, capturing the value of flexibilities for managers. The deferral option was the one that most impacted the expanded net present value. Investment projects in photovoltaic panels to produce electricity in a forest nursery are economically viable when analyzed through real options.en
dc.description.affiliationSchool of Agriculture São Paulo State University (Unesp)
dc.description.affiliationSão Paulo State University (Unesp), Campus of Itapeva
dc.description.affiliationUnespSchool of Agriculture São Paulo State University (Unesp)
dc.description.affiliationUnespSão Paulo State University (Unesp), Campus of Itapeva
dc.identifierhttp://dx.doi.org/10.3390/su15053960
dc.identifier.citationSustainability (Switzerland), v. 15, n. 5, 2023.
dc.identifier.doi10.3390/su15053960
dc.identifier.issn2071-1050
dc.identifier.scopus2-s2.0-85149905258
dc.identifier.urihttp://hdl.handle.net/11449/248509
dc.language.isoeng
dc.relation.ispartofSustainability (Switzerland)
dc.sourceScopus
dc.subjectcuttings
dc.subjectEucalyptus
dc.subjectmanagerial flexibilities
dc.subjectnet present value
dc.subjectphotovoltaic panels
dc.subjectrenewable energy
dc.titlePhotovoltaic Solar Energy in Forest Nurseries: A Strategic Decision Based on Real Options Analysisen
dc.typeArtigo
unesp.author.orcid0000-0002-8508-5386[2]
unesp.author.orcid0000-0003-2445-8051[3]
unesp.author.orcid0000-0001-8009-2598[5]

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Artigos - Engenharia Industrial Madeireira - Itapeva