EXPEDITING THE TRANSITION FROM NON-RENEWABLE TO RENEWABLE ENERGY VIA OPTIMAL CONTROL

Much recent climate research suggests that the transition from non-renewable to renewable energy should be expedited. To address this issue we use an optimal control model, based on an integrated assessment model of climate change that includes two types energy production. After setting up the model, we derive necessary optimality conditions in the form of a Pontryagin type Maximum Principle. We use a numerical discretization method for optimal control problems to explore various policy scenarios. The algorithm allows to compute both state and co-state variables by providing a consistent numerical approximation for the adjoint variables of the various scenarios. Our numerical method applies to control and state-constrained control problems as well as to delayed control problems. In the policy scenarios, we explore ways how the transition from non-renewable to renewable energy can be expedited.