Green investment under time-dependent subsidy retraction risk

Sala 6.4.30, FCUL, Lisboa

Por Carlos Oliveira (Cemapre, ISEG - School of Economics and Management).

Abstract: Driven by ambitious targets to reduce greenhouse gas emissions many countries have introduced support schemes to accelerate investments in renewable energy (RE). However, in recent years experience showed that, over time, retraction of support schemes becomes more likely. This has a severe effect on investment behavior. We split this presentation into two parts. In the first one, we address the general problem of making a managerial decision when the investment project is subsidized, which results in the resolution of an infinite-horizon optimal stopping problem of a switching diffusion driven by either a homogeneous or an inhomogeneous continuous-time Markov chain. Additionally, we provide a characterization of the value function (and optimal strategy) of the optimal stopping problem. Indeed, we can prove that the value function is the unique viscosity solution to a system of HJB equations. In the second part, we study, particularly, the effect of a potential subsidy retraction on investment timing in RE production capacity. Subsidy implemented in the form of fixed feed-in tariffs (FIT) is subject to potential future retraction. We explicitly account for the fact that the likelihood of policy retraction may change over time.

CEAUL - Centro de Estatística e Aplicações da Universidade de Lisboa

Conversa com Galopim de Carvalho.

Cartaz do evento

A Feira Internacional dos Minerais, Gemas e Fósseis está de regresso ao Museu Nacional de História Natural e da Ciência!

Workshop promovido pelo GAPsi - Gabinete de Apoio Psicopedagógico.

Talks @DI, por Marcelo Inuzuka e Ruan Rodrigues.

Mathematical Logic Webinar, por Paulo Santos (Universidade Nova de Lisboa - CMA).

Logótipo do projeto

Bioecosys brings together expertise and experience in forest ecosystem management and economics to communicate recent findings and to accelerate the transfer of knowledge and best practices to stakeholders and forest actors.

"Desenvolvimento da Organocatálise Assimétrica", por Amélia Pilar Reuter.

Seminário no âmbito da Unidade Curricular de Introdução aos Recursos Naturais Vegetais, por Jorge Faria (INIAV - Instituto Nacional de Investigação Agrária e Veterinária / MED - Instituto Mediterrâneo para a Agricultura, Ambiente e Desenvolvimento).

Imagem do evento

Since the announcement of the installation of a Cancer Proton therapy unit in Portugal, followed by the creation of the ProtoTera association, the interest in applications and developments on Cancer Therapy with Charged Particles has seen a great development at

Sessão de apresentação do livro coordenado por José Almeida Silva (IDL / Ciências ULisboa).

Imagem alusiva ao evento

This Workshop will gather specialists in the field of Combinatorial Optimization, from several countries, to present and discuss recent research work around this subject. Luís Gouveia, coordinator of CMAFcIO and José Rui Figueira, president of CEG-IST will present the Opening Session.

Imagem ilustrativa do evento e várias informações (título, oradora, data)

Formação de Comunicação em Ciência(s), por Cristina Nobre Soares.

Imagem ilustrativa do concerto de natal

Concerto de Natal | Aula Magna da Reitoria da Universidade de Lisboa.

Conversa com Galopim de Carvalho.

Workshop promovido pelo GAPsi - Gabinete de Apoio Psicopedagógico.

Imagem alusiva ao evento

The training program will provide industry and academia the technological and scientific pathways required for deployment of sustainable cost-effective large scale energy storage and conversion powered by renewable energies.

"Desenvolvimento da Organocatálise Assimétrica", por Amélia Pilar Reuter.

Logótipo dos Prémios, sobre um fundo azul escuro

Candidaturas a decorrer até 15 de dezembro de 2021.

Logótipo do ENBE XVII, sobre um fundo branco

This meeting is a forum for scientists of all academic levels, (from master to principal investigators), to present their work and discuss, fostering new ideas and collaborations. We invite researchers from all over the world to participate and submit their work.

Conferência do Centro Interuniversitário de História das Ciências e da Tecnologia, por Céline Paillette (Université Paris 1 Panthéon-Sorbonne).

Desde o início de 2020 que somos bombardeados, através da comunicação social, com informações sobre o novo coronavírus humano - SARS-CoV-2 - que provoca a síndrome respiratória aguda grave. Nunca se comunicou tanto, em tempo real, um tema científico, mas será que já vimos todas as nossas perguntas sobre este tema respondidas?

Pormenor de mapa do continente europeu

Candidaturas online de 01 a 31 de dezembro de 2021.

At the end of this course, participants will be able to predict the three-dimensional structure of nucleic acid and proteins from their sequence and use the acquired knowledge to improve or create new methodologies in molecular biology research and diagnostics.

The course SoilEco aims at introducing attendants to an updated state of the art of diversity of the soil biota and the functional roles played by soil organisms in key ecological processes.

Logótipo do evento, sobre um fundo branco

Understanding plant water relations at several scales under climate change is the theme of the XV Portuguese-Spanish Water relations Symposium: “Water relations under climate change: from genes to ecosystem”.