Electric Power Industry of Russia in the Transition to a Low-carbon Economy

Natalia V. Vasilenko ()
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Natalia V. Vasilenko: St. Petersburg University of Management Technologies and Economics

A chapter in Challenges and Solutions in the Digital Economy and Finance, 2022, pp 405-416 from Springer

Abstract: Abstract The transition to a low-carbon economy that ensures sustainable development in such domains as ecology and economics will inevitably affect Russian power generation as a key infrastructure industry of the Russian economy. The study aims to identify the baseline conditions, prospects for, and barriers to the development of Russia’s electric power industry during the transition to a low-carbon economy corresponding to the 3Ds concept. A significant share of hydropower and nuclear power in the energy balance of the country is the path dependence of creating a centralized power supply system in the twenty-first century. The institutional environment of the Russian energy sector stimulates the promotion of renewable energy sources and intelligent energy systems. Despite the fact that the share of renewable energy sources in Russia’s energy mix is not very big, the general trend aligns with the vector of the fourth energy transition. The technological barrier implies the need to continue research and development in renewable energy technologies to replace old equipment at thermal power plants and the need to upgrade the existing power plants of all types, as well as substations and power grids. The psychological barrier implies an increase in the readiness of Russian citizens to take an active part as stakeholders in distributed energy systems.

Keywords: Power industry; Energy policy; Low-carbon economy; Renewable energies; Power industry decentralization; Power industry digitalization (search for similar items in EconPapers)
Date: 2022
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Persistent link: https://EconPapers.repec.org/RePEc:spr:prbchp:978-3-031-14410-3_42

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DOI: 10.1007/978-3-031-14410-3_42

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