Fig. 3
From: A real options approach to renewable electricity generation in the Philippines
Option values at decreasing electricity price scenario. Legend: base_0: option values of energy investment at the initial period; base_T: option values of energy investment at the terminal period; elec−1_0: option values at 10% lower electricity price than the base at the initial period; elec−1_T: option values at 10% lower electricity price than the base at the terminal period; elec−2_0: option values at 25% lower electricity price than the base at the initial period; elec−2_T: option values at 25% lower electricity price than the base at the terminal period; elec−3_0: option values at 40% lower electricity price than the base at the initial period; elec−3_T: option values at 40% lower electricity price than the base at the terminal period