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Modeling investment choices: The case of roof-top solar photovoltaics in Germany

Klein, Martin (2015) Modeling investment choices: The case of roof-top solar photovoltaics in Germany. The science of choice - How to model the decision-making process?, 28.-30. Okt. 2015, Rostock, Deutschland.

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Abstract

We examine home owner investments in solar photovoltaics (PV). PV adoption can be regarded as an example of life decisions, as those investments require a considerable amount of temporal and financial commitment. We give a fundamental interpretation for the absolute level of monthly solar photovoltaics installations and will show how our proposed modeling mechanism relates to discrete choice approaches. Evidence is found that the investment behavior changed over time, namely that the mean hurdle rate of house owners for adopting PV has decreased. Understanding the investment dynamics of emerging energy technologies like photovoltaics will help policy makers to adjust the level of incentives like feed-in tariffs to reach desired deployment goals. The research results will be used to expand an agent-based model built to investigate the integration of renewable energy sources into the German electricity market.

Item URL in elib:https://elib.dlr.de/100529/
Document Type:Conference or Workshop Item (Speech)
Title:Modeling investment choices: The case of roof-top solar photovoltaics in Germany
Authors:
AuthorsInstitution or Email of AuthorsAuthors ORCID iD
Klein, Martinm.klein (at) dlr.deUNSPECIFIED
Date:29 October 2015
Refereed publication:No
Open Access:No
Gold Open Access:No
In SCOPUS:No
In ISI Web of Science:No
Status:Published
Keywords:Photovoltaics, Investment, Discount Rate, Discrete Choice Model, Monte-Carlo Simulation
Event Title:The science of choice - How to model the decision-making process?
Event Location:Rostock, Deutschland
Event Type:Workshop
Event Dates:28.-30. Okt. 2015
Organizer:Max-Planck-Institute for Demographic Research, Rostock
HGF - Research field:Energy
HGF - Program:Technology, Innovation and Society
HGF - Program Themes:Renewable Energy (old)
DLR - Research area:Energy
DLR - Program:E MS - Systems analysis
DLR - Research theme (Project):E - Systems Analysis and Technology Assessment (old)
Location: Stuttgart
Institutes and Institutions:Institute of Engineering Thermodynamics > Systems Analysis and Technology Assessment
Deposited By: Klein, Martin
Deposited On:08 Dec 2015 08:29
Last Modified:08 Dec 2015 08:29

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