B. Smith et Df. Ball, EVALUATION OF CAPITAL-EXPENDITURE APPRAISAL TECHNIQUES FOR COMBINED HEAT AND POWER PROJECTS, Applied energy, 45(3), 1993, pp. 269-277
The characteristics and benefits of combined heat and power (CHP) are
well documented as are the methods for the appraisal of capital projec
ts. The work reported here has examined the investment appraisal techn
iques actually used by companies in the UK for considering investments
in CHP. A postal survey revealed that, in general, there are differen
ces between the approach used by those organizations which use CHP and
those which have not. Those which have chosen to use CHP appear to be
more flexible in application of investment appraisal criteria and con
sider a greater range of strategic options.