Abstract

The aim of this study is to perform an optimum electricity self-generation portfolio with renewable energy sources in commercial buildings based on consumer characterization, renewable uncertainty, Colombian regulation and the real options of the project. The optimization methodology designed starts with the selection of renewable alternatives using multi-criteria methods. The economic evaluation of the alternative options was done using the cash flow method. The flexibility of the present value of the project was defined using the Real Options theory and the optimal portfolio was estimated through maximization of the present value of the project. The case study was developed in a commercial center concluding that renewable energies are feasible when the real options are considered in the project. Returns increase with optimization up to two thousand three hundred percent.

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