In this paper, we propose a systematic approach to study how the development in terms of cost and proven functionality of emerging energy technologies affects the optimal choice and timing of investment decisions at an industrial plant today. The methodology used is based on stochastic...

The long-term economic outcome of energy-related industrial investment projects is difficult to evaluate because of uncertain energy market conditions. In this article, a general, multistage, stochastic programming model for the optimization of investments in process integration and industrial...