Identifying optimal technological portfolios for European power generation towards climate change mitigation: A robust portfolio analysis approach

Aikaterini Forouli, Haris Doukas, Alexandros Nikas, Jon Sampedro and Dirk-Jan Van de Ven

Utilities Policy, 2019, vol. 57, issue C, 33-42

Abstract: Here, an integrative approach is proposed to link integrated assessment modelling results from the GCAM model with a novel portfolio analysis framework. This framework comprises a bi-objective optimisation model, Monte Carlo analysis and the Iterative Trichotomic Approach, aimed at carrying out stochastic uncertainty assessment and enhancing robustness. The approach is applied for identifying optimal technological portfolios for power generation in the EU towards climate change mitigation until 2050. The considered technologies include photovoltaics, concentrated solar power, wind, nuclear, biomass and carbon capture and storage, for which different subsidy curves for emissions reduction and energy security are considered.

Keywords: Decision support; Power generation; Technology R&D; Portfolio analysis; Uncertainty; Robustness (search for similar items in EconPapers)
Date: 2019
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Citations: View citations in EconPapers (4)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:juipol:v:57:y:2019:i:c:p:33-42

DOI: 10.1016/j.jup.2019.01.006

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