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A non-linear dynamic model in two state variables, two controls and three cost terms is presented for the purpose of finding the optimal combination of exploitation and capital investment in optimal renewable resource management. Non-malleability of capital is, in other words, incorporated in...
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One of the Colombian strategies to diversify and decarbonize the energy sector is encouraging the use of non-conventional renewable resources (NCRR). For doing so the government issued in 2014 the Law 1715 to promote NCRR and energy efficiency improvements into the sector. While presumably it...
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