Development of Russian Energy Companies and Renewable Energy Sector in Russia

Nikolay V. Studenikin
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Nikolay V. Studenikin: MGIMO University

A chapter in Industry 4.0, 2022, pp 105-118 from Springer

Abstract: Abstract According to experts, in about two decades, society will need 30% more energy. This is due to the development of the world economy, the increase in the number of people living on the planet, the improvement in quality of life and consumption. In the energy sector, there is a rapid development of the latest technologies, which significantly reduce energy intensity. The energy market is increasingly being taken over by Green Technologies. In the last five years, 1 trillion dollars have been invested in the global green energy industry, and at present there are around 10 million jobs in this sector. This determines the relevance of research and development of alternative energy in Russia. The purpose of this study is to identify the dynamics in the development of the RES sector in Russia and key energy companies in this industry. In this work, the author uses statistical research methods, including correlation, based on data from reports on development of alternative energy in Russia as well as comparative and institutional analysis. As a result, we come to the conclusion that the Russian Federation has extensive potential in the development of renewable energy, a significant part of which is currently hydropower and biomass power generation. But Russia also has great opportunities to develop solar and wind power generation. According to expert estimates, the development of renewable energy in Russia will remain rather slow in the coming years. However, lower costs for the production of renewable energy and power generation units, as well as reduced demand for hydrocarbons, will lead to a situation where the Government will have to force the development of this sector. In this case, the key problem may be the lack of the necessary mechanisms to expand the existing base and the interest of key investors.

Keywords: Alternative energy in Russia; Energy companies in the field of renewable energy; Sustainable development; Q2; O31 (search for similar items in EconPapers)
Date: 2022
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Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-3-030-79496-5_9

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DOI: 10.1007/978-3-030-79496-5_9

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