In this paper, we propose a method of optimizing financial subsidies and public research and development investments for renewable energy technologies, rather than optimizing financial subsidy alone. By combining system dynamics with real option models, we capture dynamic complex interactions...

A new long-term technology valuation method for renewable energy technologies that combines system dynamics with Monte Carlo simulation is proposed. Existing valuation methods using surveys or cash flows are suitable for technologies characterized by short lifecycles and little uncertainty, but...