For the time being the main goal is to prepare functioning application based on the proposed mathematical model within the financing conditions

of the PHD study provided by the Nordic Energy Research. 

The mathematical model should provide information about the measurement of investments based on Estonian (for the time being) conditions.

In order to compose the mathematical model, the general-to-particular approach is used.

Development of the conceptual model is the most important part of modelling process. The conceptual model is the foundation of the quantitative,

mathematical presentation of the object/process (mathematical model), which in turn is the basis for the computer code used for simulation.   

The context in which a conceptual model is developed constrains the range of its applicability. A conceptual model is by necessity a simplification

of the real system, but the degree of simplification must be commensurate with the problem being addressed.

In general terms, a conceptual model is a qualitative tool being expressed by ideas, words and figures. A mathematical model is a qualitative tool

expressed in the form of mathematical equations. The two are closely related. In essence, a mathematical model results from translating 

the conceptual model into a well-posed mathematical problem that can be solved. An additional information about the calculation principles is

available in Manuals section.