Abstract:   Based on optimal control theory, a model is developed to describe the discounted consumption of renewable energy resources for the goal of maximizing the social welfare. With this model, by converting the truncated vertical line problem into a terminal node problem, the regeneration rate of renewable energy resources is obtained. Also, the effect of discount rate on the optimal price path is analyzed. It has the following findings:1) stronger renewable energy resources can withstand constantly sustained exploitation, and can ensure a nonnegative reserve at a fixed end time; 2) when the social discount rate is equal to the regeneration rate, the renewable energy resources keep in a constant if the optimal price path is adopted; 3) when the social discount rate is twice as much as the regeneration rate, the optimal price path increases exponentially and the growth rate is equal to the regeneration rate; and 4) in the general cases, the growth of optimal price path is exponential with the difference between the optimal price path discount rate and the regeneration rate being the growth rate.  

Key words:  resource management, pricing strategy, renewable resources