Will has worked extensively over many years on the topic of investment under uncertainty, particularly in relation to investment options in the electricity sector, and how they are influenced by climate policy uncertainty as well as other risks such as fuel prices and technology costs. The publications section lists many publications related to this research, including peer reviewed journal papers, book chapters, UKERC reports and Chatham House papers.
An early example is this IEA book which provides an in-depth analysis of the impact of uncertainty in climate change policy on investment risk in the power generation sector. It assesses the role that real options analysis can play in helping to quantify these risks, and looks at the degree to which different technologies are subject to different levels of risk exposure.
Download book here Climate_Policy_Uncertainty (IEA 2007)