Title :
Optimal Investment in Alternative Energy
Author_Institution :
Coll. of Sci., Zhejiang Univ., Hangzhou
Abstract :
An optimal control model is established for the alternative energy investment strategy with the objective function of cumulative net social welfare. The investment rate is constrained by an inequality. Cumulative alternative energy production has an impact on cost and world oil price through supply on oil market. The interdependency of cost and oil price on optimal investment rate makes the problem inherently dynamic and is fully investigated. In some special cases, the optimal solution can be derived, while in general it oscillates between zero and maximal allowed value.
Keywords :
investment; optimal control; pricing; public administration; alternative energy optimal investment; cumulative net social welfare; objective function; optimal control model; optimal solution; world oil price; Aggregates; Cost function; Educational institutions; Equations; Investments; Optimal control; Petroleum; Power generation economics; Production; Stress;
Conference_Titel :
Wireless Communications, Networking and Mobile Computing, 2007. WiCom 2007. International Conference on
Conference_Location :
Shanghai
Print_ISBN :
978-1-4244-1311-9
DOI :
10.1109/WICOM.2007.997
