The Formation of the Contemporary Renewable Energy Sector and its Role in the Industry Development

Elvir Akhmetshin, Sergey Zhiltsov, Anna Dmitrieva, Andrei Plotnikov and Angelina Kolomeytseva
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Elvir Akhmetshin: Faculty of Economics and Management, Kazan Federal University, Russian Federation, Kazan, Russia,
Sergey Zhiltsov: Peoples Friendship University of Russia (RUDN University), Engineering Academy, Russian Federation, Moscow, Russia
Anna Dmitrieva: Federal State Autonomous Educational Institution of Higher Education South Ural State University (National Research University), Russian Federation, Institute of Law, Chelyabinsk, Russia,
Andrei Plotnikov: Humanitarian Faculty, Perm National Research Polytechnic University, Russian Federation, Perm, Russia,
Angelina Kolomeytseva: Faculty of International Economic Relations, Moscow State Institute of International Relations (MGIMO University), Moscow, Russia

International Journal of Energy Economics and Policy, 2019, vol. 9, issue 6, 373-378

Abstract: Currently, renewable energy is one of the core issues brought up monthly on the global market. The created green energy policy and support of the most advanced countries are aimed at its development. State-of-the-art technology, necessary scope of knowledge, and optimal conditions for using renewable sources of energy altogether are the factors for focusing on the development of the industry. The core purpose of the research was to reveal facts of the current formation of the renewable energy sector. As a result of the research, we found out that the renewable energy sector is currently achieving its peak of popularity. The issue is of worldwide relevance, and the leading countries focus their efforts on supporting the industry, while municipalities extensively implement such facilities in large cities. Renewable energy resources are also used in such areas as the transportation, cooling, heating, and energy industry, and many others.

Keywords: R enewable energy; Biofuel; Municipal energy sector; Power generation. (search for similar items in EconPapers)
JEL-codes: K3 Q42 Q48 (search for similar items in EconPapers)
Date: 2019
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Citations: View citations in EconPapers (2)

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