企業在評估一個重大的資本支出時，常使用淨現值法或內部報酬率法等傳統的資本預算方法來評估，雖然可以快速地得到評估結果，但其結果並不具備任何彈性，在此情形下，若是提供給經營團隊做決策之參考，將會有相當大的決策風險。
　　有鑑於產業環境快速變遷，財務人員也希望能夠找到一種更彈性、更能降低評估風險的方式。實質選擇權法則提供了財務人員一種新的思考方式，藉由分析延遲、擴張、縮減或放棄之彈性價值，可以補足傳統資本預算方法不具管理彈性之問題。而賽局理論分析則可以提供決策團隊，如何在與主要競爭者競爭時，找出均衡策略。
　　太陽能產業環境近年來波動相當大，本研究嘗試以太陽能產業之個案為例子，以實質選擇權與賽局理論的方法來分析，希望能給決策者一種新的決策思維。

Enterprises often use the traditional capital budgeting methods, such like the net present value method (NPV) or internal rate of return method (IRR), to evaluate a major capital expenditure. Using the traditional capital budgeting methods can easy and quickly have the evaluation result, but the result doesn’t have the managerial flexibilities. Therefore, it will be a big risk to make decision for management team when industry environment rapidly changing.
　　In view of rapidly changing industry environment, the management team also wants to find a more flexible ways to assess risk reduction. The real option method provides the management team a new thinking. It can complement the traditional capital budgeting methods and increase management flexibility. The game theory analysis can also help to find a balanced strategy when they compete with major competitors.
There is a big fluctuation in the solar industry in recent years. This research attempts to use the real option method and game theory method to analyze a solar company, hoping to give the decision makers a new thinking.

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