Abstract
In this paper, three models have been projected namely Modified Econometric Mathematical (MEM) model, Mathematical Programming Energy-Economy-Environment (MPEEE) model, and Optimal Renewable Energy Mathematical (OREM) model. The actual demand for coal, oil and electricity is predicted using the MEM model based on economic, technological and environmental factors. The results were used in the MPEEE model, which determines the optimum allocation of commercial energy sources based on environmental limitations. The gap between the actual energy demand from the MEM model and optimal energy use from the MPEEE model, has to be met by the renewable energy sources. The study develops an OREM model that would facilitate effective utilization of renewable energy sources in India, based on cost, efficiency, social acceptance, reliability, potential and demand. The economic variations in solar energy systems and inclusion of environmental constraint are also analyzed with OREM model. The OREM model will help policy makers in the formulation and implementation of strategies concerning renewable energy sources in India for the next two decades.
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