Comparative economic analysis of technological priorities for low-carbon transformation of electric power industry in Russia and the EU

Fedor Veselov, Tatiana Pankrushina and Andrey Khorshev

Energy Policy, 2021, vol. 156, issue C

Abstract: This paper explores the differences in technological priorities for decarbonization of the Russian and the European power sectors up to 2040 and investigates the main drivers of such differences. We used updated cost and performance data to conduct a comparative analysis of technologies based on levelized cost of electricity. Calculation of carbon avoided costs allowed us to found the pool of cost-efficient low-carbon technologies for the Russian power industry as well as the level of carbon prices needed to support their development. Also, we have explained the reasons which cause differences in decarbonization priorities in Russia and Europe. We have also investigated the impact of system requirements (and associated costs) in terms of capacity availability and its operating modes on the competitiveness of renewable energy sources and conventional power plants. Consideration of these requirements and costs improves the quality of power system planning and policy-making processes under the strict limits on greenhouse gas emissions. Based on performed analysis we suggest economically reasonable decarbonization strategy of the Russian power industry as well as the necessary level of carbon prices/taxes for various low- and non-carbon technologies to support their development.

Keywords: Decarbonization; Carbon prices; Power industry; Levelized cost; Renewable energy sources (search for similar items in EconPapers)
Date: 2021
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (7)

Downloads: (external link)
http://www.sciencedirect.com/science/article/pii/S0301421521002792
Full text for ScienceDirect subscribers only

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:eee:enepol:v:156:y:2021:i:c:s0301421521002792

DOI: 10.1016/j.enpol.2021.112409

Access Statistics for this article

Energy Policy is currently edited by N. France

More articles in Energy Policy from Elsevier
Bibliographic data for series maintained by Catherine Liu ().