基于实物期权的公共建筑能耗监测项目价值评价研究

研究不确定条件下的公共建筑能耗监测项目的价值评价方法,是顺应全面建筑节能的形势,确保能耗监测市场良性运行的重要内容。通过对能耗监测项目的期权特性分析,以实物期权理论评价原理为基础上,构建了基于实物期权理论的公共建筑能耗监测项目的价值评价模型,对传统净现值法计算的项目价值进行了补充,并通过案例分析验证了模型的有效性。研究结果表明,相对于传统的净现值法,实物期权法能较为全面地反映公共建筑能耗监测项目真实的价值,为公共建筑能耗监测项目价值评价提供一种新的思路。

Value Evaluation of Public Building Energy Consumption Monitoring Projects Based on Real Option

In order to follow the overall building energy-saving situation in China, it is in urgent need to investigate the value evaluation methods of public building projects under uncertainty to guarantee a sound operation in energy consumption monitoring.Through the analysis of energy consumption monitoring projects' option characteristics, based on the principle of real option theory, a value evaluation model is constructed for public building energy consumption monitoring, to supplement their NPV.An energy consumption monitoring project has also been taken as an example, to examine the validity of the model.The results show that, compared to NPV approach, the real option approach can better reflect the project's actual value of the public building energy consumption monitoring.The proposed method and the analyzing results will provide a new tool in value evaluation of public building energy consumption monitoring projects in China.