不確実性下における再生可能エネルギーと暗号通貨マイニングの投資決定のモデル化
Modeling Investment Decisions in Renewable Energy and Cryptocurrency Mining Under Uncertainty (原題)
Kazuya Ito, Ryo Takahashi, Ryuta Takashima
🤖 gxceed AI 要約
日本語
本研究は、不確実性下での再生可能エネルギー投資と暗号通貨マイニングの相互作用を捉えた実オプションモデルを開発。数値解析により、マイニングが再生可能エネルギー投資の価値を高め、投資閾値を引き下げることを示した。特に、マイニング容量を内生化することで、外生の場合と比べて投資閾値が約40.5%低下することを明らかにした。
English
This study develops a real options model capturing the interaction between renewable energy investment and cryptocurrency mining under uncertainty. Numerical results show that mining increases the value of renewable energy investment and lowers the investment threshold. Endogenizing mining capacity reduces the threshold by approximately 40.5% compared to an exogenous benchmark.
Unofficial AI-generated summary based on the public title and abstract. Not an official translation.
📝 gxceed 編集解説 — Why this matters
日本のGX文脈において
日本では再生可能エネルギーの導入拡大が喫緊の課題であり、余剰電力の有効活用策として暗号通貨マイニングは新たな収益源となり得る。本モデルは投資判断の定量的根拠を提供し、エネルギー政策や企業の投資戦略に示唆を与える。
In the global GX context
Globally, the integration of intermittent renewables poses economic challenges; this paper offers a novel mechanism to monetize surplus electricity via crypto mining, which could inform investment strategies and policy design for renewable expansion in markets with curtailment issues.
👥 読者別の含意
🔬研究者:Provides a real options framework for valuing renewable investments with complementary activities like crypto mining, useful for further research on energy-finance linkages.
🏢実務担当者:Offers insights into how ancillary revenue streams (e.g., crypto mining) can improve the business case for renewable projects, potentially affecting investment decisions.
🏛政策担当者:Highlights a potential avenue for increasing renewable adoption, but also raises questions about the environmental impact of crypto mining that need policy consideration.
📄 Abstract（原文）
Operations research has long contributed to addressing energy and environmental challenges through mathematical modeling and decision-support methods. In particular, numerous studies have examined investment planning, capacity expansion, and policy design for renewable energy systems under uncertainty. As efforts to achieve carbon neutrality intensify worldwide, the expansion of renewable energy has become a critical policy and investment priority. However, the inherent variability of renewable power generation and the substantial upfront investment costs continue to hinder investment decisions and limit the adoption of renewable energy. To address the economic challenges associated with renewable energy penetration, recent studies have explored the use of cryptocurrency mining as a means of monetizing surplus renewable electricity. This study contributes to this emerging research stream by developing a real options model that captures the interaction between renewable energy investment and cryptocurrency mining under uncertainty. The numerical results show that cryptocurrency mining increases the value of renewable energy investment and accelerates investment by lowering the investment threshold. Moreover, the equilibrium determination of mining capacity reduces the renewable energy investment threshold by approximately 40.5% compared with the benchmark in which mining capacity is specified exogenously.
🔗 Provenance — このレコードを発見したソース
- openalex https://doi.org/10.3390/math14162886first seen 2026-08-30 04:35:01
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