Investment under uncertainty in the future energy system: The role of expectations and learning [InvestExL]
EU’s and Norway’s ambitious climate and energy targets need to be fulfilled by making many small and large investment decisions. Each of these need to balance organizational objectives, profitability, and sustainability concerns, and will be made under considerable uncertainty regarding the future energy system. InvestExL will develop knowledge that assists decision makers and policy makers, using active learning to support investment processes in the Norwegian energy system, while at the same time delivering scientific contributions at the forefront of real options theory in the direction of learning, and improved formation of expectations, about energy market and policy uncertainty factors.
The 4-year study is a co-operation between the Department of Industrial Economics and Technology Management at the Norwegian University of Science and Technology, Hydro Energi AS, Tilburg University (NL), the University of Illinois at Urbana-Champaign (US), the University of York (UK) and the University of Lisbon (P).