![]() ![]() ![]() Waste-to-energy technologies start to gain the attention of developing countries as a sustainable energy source in response to the worsening municipal solid waste management problem. Current policy needs and methods indicate the potential usefulness, possibility and relevance of bridging behavioral characteristics to sectoral, economy, energy and environmental models. This is undertaken keeping in mind the historic perspectives of energy modelling that indicate the omnipresent influence of policy needs on the methodological developments in energy modeling. Some popular models that have provided useful insights for policy design and future directions of interest are examined. This chapter discusses the recent developments in energy modelling and the necessity to come with new methodological approaches to address pressing issues of policy relevance. ![]() The development of energy models and design alternatives allow scientists, and through expert analysis policy makers, to assess current and future developments, to examine alternative technology, policy and socioeconomic development paths of the future and to lay ground for optimal policy options for current and future energy systems and markets. Uncertainties with regards to future uninterrupted and affordable access to energy, sectoral and technology developments, demand, supply and behavioral aspects, to name a few, drive methodological developments in the energy modelling sphere. Green energy and sustainability transition pose new challenges and questions for policy making. Furthermore, the findings provide policymakers and project planners with valuable insights into key aspects of RE project and policy design. The results give a comprehensive picture of existing research on the topic, thus providing researchers with a solid foundation for further study and indications of directions for future development. Particular attention is given to RO in project and policy design. This study describes the research focus, trends and design found in contemporary academic literature devoted to RE valuation with a RO approach. The variety of different frameworks and models adopted as well as a lack of aggregated analysis of the field suggest a need for a critical review of RO methodology and design in RE assessment. To take account of the high-risk profile and irreversibility of RE investments, researchers have resorted to sophisticated real options (RO) approaches that enable flexibility to be incorporated into project design in the face of an uncertain environment. In light of intensive development of the renewable energy (RE) sector, a growing number of academic papers address the complexity of RE investment planning and valuation. ![]()
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